First Data Corp (FDC) Shares Bought by M&T Bank Corp

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M&T Bank Corp boosted its position in First Data Corp (NYSE:FDC) by 24.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,078 shares of the business services provider’s stock after purchasing an additional 6,011 shares during the period. M&T Bank Corp’s holdings in First Data were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Manhattan Co. lifted its position in First Data by 4.8% in the fourth quarter. First Manhattan Co. now owns 11,000 shares of the business services provider’s stock worth $186,000 after purchasing an additional 500 shares during the period. First Personal Financial Services lifted its position in First Data by 57.9% in the fourth quarter. First Personal Financial Services now owns 4,049 shares of the business services provider’s stock worth $68,000 after purchasing an additional 1,484 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in First Data by 5.4% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,475 shares of the business services provider’s stock worth $532,000 after purchasing an additional 1,624 shares during the period. IFM Investors Pty Ltd lifted its position in First Data by 7.4% in the fourth quarter. IFM Investors Pty Ltd now owns 31,419 shares of the business services provider’s stock worth $531,000 after purchasing an additional 2,177 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in First Data in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 56.58% of the company’s stock.

Shares of NYSE:FDC opened at $25.50 on Wednesday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.02 and a current ratio of 1.02. First Data Corp has a 12-month low of $14.73 and a 12-month high of $26.62. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.36 and a beta of 2.31.

First Data (NYSE:FDC) last announced its earnings results on Wednesday, February 6th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. First Data had a net margin of 10.58% and a return on equity of 18.47%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that First Data Corp will post 1.39 earnings per share for the current fiscal year.

In other First Data news, insider Cynthia A. Armine-Klein sold 99,510 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $19.00, for a total transaction of $1,890,690.00. Following the sale, the insider now directly owns 662,767 shares of the company’s stock, valued at approximately $12,592,573. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is owned by insiders.

A number of equities research analysts have recently commented on FDC shares. KeyCorp cut their price objective on First Data from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $22.00 price objective on shares of First Data in a research report on Monday, December 17th. Mizuho reiterated a “buy” rating and set a $21.00 price objective on shares of First Data in a research report on Thursday, January 3rd. Barclays started coverage on First Data in a research report on Wednesday, November 14th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, SunTrust Banks reiterated a “buy” rating on shares of First Data in a research report on Monday, January 7th. Twenty research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.98.

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First Data Profile

First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.

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Institutional Ownership by Quarter for First Data (NYSE:FDC)

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