M&T Bank Corp Decreases Holdings in Shift4 Payments, Inc. (NYSE:FOUR)

M&T Bank Corp trimmed its holdings in shares of Shift4 Payments, Inc. (NYSE:FOUR) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,983 shares of the company’s stock after selling 1,032 shares during the quarter. M&T Bank Corp’s holdings in Shift4 Payments were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Elequin Capital LP lifted its holdings in shares of Shift4 Payments by 62.3% in the 4th quarter. Elequin Capital LP now owns 297 shares of the company’s stock worth $31,000 after acquiring an additional 114 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Shift4 Payments by 41.7% in the 1st quarter. Valley National Advisers Inc. now owns 425 shares of the company’s stock worth $34,000 after acquiring an additional 125 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Shift4 Payments by 31.4% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 532 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares during the last quarter. Triumph Capital Management lifted its holdings in shares of Shift4 Payments by 3.2% in the 4th quarter. Triumph Capital Management now owns 4,360 shares of the company’s stock worth $452,000 after acquiring an additional 137 shares during the last quarter. Finally, MRP Capital Investments LLC lifted its holdings in shares of Shift4 Payments by 5.9% in the 4th quarter. MRP Capital Investments LLC now owns 2,700 shares of the company’s stock worth $280,000 after acquiring an additional 150 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Shift4 Payments

In related news, Director Karen Roter Davis sold 2,757 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $94.53, for a total transaction of $260,619.21. Following the transaction, the director directly owned 6,592 shares of the company’s stock, valued at $623,141.76. This represents a 29.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nancy Disman sold 10,000 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $90.33, for a total value of $903,300.00. Following the transaction, the chief financial officer directly owned 167,622 shares in the company, valued at $15,141,295.26. This represents a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,757 shares of company stock valued at $1,258,449 over the last quarter. 25.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FOUR. Keefe, Bruyette & Woods raised their target price on shares of Shift4 Payments from $95.00 to $110.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Truist Financial assumed coverage on shares of Shift4 Payments in a report on Monday, June 2nd. They issued a “hold” rating and a $97.00 price target on the stock. DA Davidson restated a “buy” rating and issued a $124.00 price target on shares of Shift4 Payments in a report on Thursday, June 5th. Wall Street Zen cut shares of Shift4 Payments from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, BTIG Research cut their price target on shares of Shift4 Payments from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Shift4 Payments presently has an average rating of “Moderate Buy” and an average price target of $116.10.

Shift4 Payments Price Performance

Shares of FOUR stock opened at $103.33 on Thursday. Shift4 Payments, Inc. has a 1-year low of $57.45 and a 1-year high of $127.50. The stock’s 50-day moving average is $94.71 and its 200 day moving average is $95.73. The company has a market cap of $9.16 billion, a P/E ratio of 34.91 and a beta of 1.80. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.36 and a quick ratio of 1.36.

Shift4 Payments (NYSE:FOUR) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.31. Shift4 Payments had a return on equity of 32.97% and a net margin of 6.50%. The company had revenue of $368.50 million for the quarter, compared to the consensus estimate of $886.09 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. Research analysts predict that Shift4 Payments, Inc. will post 3.7 earnings per share for the current fiscal year.

About Shift4 Payments

Shift4 Payments, Inc (NYSE FOUR) provides integrated payment processing and technology solutions in the United States. Its payments platform provides omni-channel card acceptance and processing solutions, including end-to-end payment processing for various payment types; merchant acquiring; proprietary omni-channel gateway; complementary software integrations; integrated and mobile point-of-sale (POS) solutions; security and risk management solutions; and reporting and analytical tools, as well as tokenization, risk management/underwriting, payment device and chargeback management, fraud prevention, and gift card solutions.