M&T Bank Corp Invests $19.65 Million in Fiserv, Inc. (NYSE:FI)

M&T Bank Corp purchased a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 147,884 shares of the business services provider’s stock, valued at approximately $19,645,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FI. Merit Financial Group LLC purchased a new position in Fiserv during the 4th quarter worth $1,055,000. Horan Capital Advisors LLC. purchased a new position in Fiserv during the 4th quarter worth $3,805,000. 9258 Wealth Management LLC purchased a new position in Fiserv during the 4th quarter worth $552,000. Benjamin F. Edwards & Company Inc. purchased a new position in Fiserv during the 4th quarter worth $1,632,000. Finally, SouthState Corp purchased a new position in shares of Fiserv in the 4th quarter valued at $3,517,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $25,209,646. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 111,575 shares of company stock worth $17,022,387. Insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of FI stock traded up $0.05 during trading hours on Friday, reaching $149.22. The company had a trading volume of 2,942,846 shares, compared to its average volume of 2,577,646. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average of $152.74 and a 200-day moving average of $139.04. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 earnings per share. On average, equities analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley raised their price objective on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. B. Riley raised their price objective on Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. BMO Capital Markets raised their price objective on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, StockNews.com assumed coverage on Fiserv in a research report on Saturday, February 3rd. They issued a “buy” rating for the company. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.33.

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.