M&T Bank Corp Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

M&T Bank Corp reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 143,814 shares of the credit services provider’s stock after selling 17,676 shares during the period. M&T Bank Corp’s holdings in PayPal were worth $11,222,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Raymond James Trust N.A. boosted its position in shares of PayPal by 8.7% in the second quarter. Raymond James Trust N.A. now owns 15,771 shares of the credit services provider’s stock worth $915,000 after acquiring an additional 1,258 shares during the last quarter. Skylands Capital LLC acquired a new position in shares of PayPal in the 2nd quarter valued at $174,000. Checchi Capital Advisers LLC grew its stake in shares of PayPal by 3.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after buying an additional 184 shares during the period. 1834 Investment Advisors Co. acquired a new stake in shares of PayPal during the 2nd quarter worth $335,000. Finally, HB Wealth Management LLC raised its position in shares of PayPal by 27.1% in the 2nd quarter. HB Wealth Management LLC now owns 16,086 shares of the credit services provider’s stock worth $933,000 after buying an additional 3,432 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $87.13 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $87.35 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $93.66. The business has a 50 day simple moving average of $84.65 and a 200-day simple moving average of $73.20.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on PYPL. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Susquehanna raised their target price on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Monness Crespi & Hardt upped their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.42.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.