M&T Bank Corp Has $29.10 Million Stock Position in Fiserv, Inc. (NYSE:FI)

M&T Bank Corp increased its position in shares of Fiserv, Inc. (NYSE:FI) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 141,654 shares of the business services provider’s stock after purchasing an additional 1,194 shares during the period. M&T Bank Corp’s holdings in Fiserv were worth $29,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FI. Valley National Advisers Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth about $29,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv during the 4th quarter worth about $29,000. Compass Financial Services Inc acquired a new stake in shares of Fiserv during the 4th quarter worth about $31,000. Kennebec Savings Bank acquired a new stake in shares of Fiserv during the 3rd quarter worth about $40,000. Finally, Friedenthal Financial acquired a new stake in shares of Fiserv during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 1.0 %

Fiserv stock opened at $226.07 on Thursday. The company’s 50 day simple moving average is $217.92 and its 200 day simple moving average is $202.41. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The firm has a market capitalization of $126.89 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays increased their price objective on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. KeyCorp increased their price objective on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.