Citizens Business Bank Raises Stock Holdings in Mastercard Incorporated $MA

Citizens Business Bank raised its position in shares of Mastercard Incorporated (NYSE:MA) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,883 shares of the credit services provider’s stock after acquiring an additional 265 shares during the period. Citizens Business Bank’s holdings in Mastercard were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in Mastercard during the 2nd quarter valued at $11,421,213,000. Nuveen LLC purchased a new stake in Mastercard during the 1st quarter valued at $4,238,764,000. Wellington Management Group LLP raised its holdings in Mastercard by 38.6% during the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after buying an additional 3,765,378 shares during the period. Assenagon Asset Management S.A. raised its holdings in Mastercard by 3,493.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock valued at $524,914,000 after buying an additional 908,116 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Mastercard by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after buying an additional 907,184 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO J. Mehra Sachin sold 17,816 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

MA has been the topic of several recent research reports. KeyCorp increased their price target on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, August 1st. TD Cowen restated a “buy” rating and set a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Morgan Stanley upped their price objective on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $634.04.

Mastercard Price Performance

MA opened at $561.42 on Friday. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The business’s fifty day simple moving average is $580.22 and its 200-day simple moving average is $563.16. The company has a market capitalization of $507.53 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 2.25 and a beta of 0.97.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the company earned $3.50 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.