BM Technologies (NYSE:BMTX) Price Target Lowered to $19.00 at Maxim Group

BM Technologies (NYSE:BMTXGet Rating) had its price objective trimmed by Maxim Group from $25.00 to $19.00 in a research report sent to investors on Wednesday, The Fly reports.

BM Technologies Stock Up 2.3 %

BMTX opened at $6.29 on Wednesday. The stock has a market cap of $76.98 million, a P/E ratio of 77.63 and a beta of 0.02. BM Technologies has a 12 month low of $5.40 and a 12 month high of $15.10. The company has a fifty day simple moving average of $6.07 and a 200 day simple moving average of $7.11.

BM Technologies (NYSE:BMTXGet Rating) last announced its quarterly earnings data on Tuesday, August 16th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. BM Technologies had a return on equity of 27.10% and a net margin of 16.88%. On average, equities research analysts expect that BM Technologies will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BM Technologies

A number of hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC grew its holdings in shares of BM Technologies by 338.1% during the fourth quarter. Wolverine Asset Management LLC now owns 15,249 shares of the company’s stock valued at $140,000 after buying an additional 11,768 shares during the last quarter. Tieton Capital Management LLC purchased a new stake in shares of BM Technologies in the fourth quarter worth approximately $2,393,000. Forager Funds Management Pty Ltd purchased a new stake in BM Technologies in the fourth quarter valued at about $5,113,000. Anchor Capital Advisors LLC increased its holdings in BM Technologies by 25.4% in the 1st quarter. Anchor Capital Advisors LLC now owns 157,276 shares of the company’s stock worth $1,345,000 after buying an additional 31,815 shares during the period. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in BM Technologies by 24.4% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 760,884 shares of the company’s stock valued at $6,506,000 after purchasing an additional 149,386 shares in the last quarter. Hedge funds and other institutional investors own 34.42% of the company’s stock.

About BM Technologies

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BM Technologies, Inc operates as a financial technology (fintech) company in the United States. It facilitates deposits and banking services between a customer and its partner bank, customers bank, which is a related party and is a Federal Deposit Insurance Corporation insured bank. The company, through its fintech banking platform, offers digital banking and disbursement services to consumers and students through digital channels.

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