M&T Bank Corp Sells 386 Shares of Global Payments Inc. (NYSE:GPN)

M&T Bank Corp cut its holdings in Global Payments Inc. (NYSE:GPN) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,872 shares of the business services provider’s stock after selling 386 shares during the period. M&T Bank Corp’s holdings in Global Payments were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Global Payments during the fourth quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. bought a new stake in Global Payments during the 4th quarter worth approximately $41,000. CVA Family Office LLC bought a new position in Global Payments in the 4th quarter valued at $50,000. Parkside Financial Bank & Trust grew its position in shares of Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 178 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Global Payments in the third quarter worth $51,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Price Performance

Shares of GPN opened at $111.57 on Friday. The firm’s 50-day simple moving average is $126.23 and its two-hundred day simple moving average is $124.72. Global Payments Inc. has a fifty-two week low of $95.12 and a fifty-two week high of $141.77. The stock has a market cap of $28.48 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 0.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.30 earnings per share. Analysts anticipate that Global Payments Inc. will post 10.95 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s payout ratio is currently 19.84%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GPN shares. Royal Bank of Canada boosted their target price on Global Payments from $154.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Citigroup dropped their price objective on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TheStreet raised Global Payments from a “c” rating to a “b-” rating in a research note on Thursday, February 1st. B. Riley lifted their price target on Global Payments from $180.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. increased their price objective on Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.