Renasant Bank Has $1.09 Million Stake in Mastercard Incorporated (NYSE:MA)

Renasant Bank lifted its holdings in Mastercard Incorporated (NYSE:MA) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,061 shares of the credit services provider’s stock after acquiring an additional 175 shares during the quarter. Renasant Bank’s holdings in Mastercard were worth $1,085,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Bank of Montreal Can lifted its position in Mastercard by 51.7% during the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after buying an additional 1,965,782 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Mastercard in the fourth quarter worth about $837,017,000. Proficio Capital Partners LLC lifted its position in shares of Mastercard by 79,739.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after purchasing an additional 1,553,329 shares in the last quarter. FMR LLC grew its stake in shares of Mastercard by 3.4% during the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after purchasing an additional 700,769 shares during the last quarter. Finally, Amundi increased its holdings in shares of Mastercard by 13.1% in the fourth quarter. Amundi now owns 4,899,438 shares of the credit services provider’s stock valued at $2,532,541,000 after purchasing an additional 565,717 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Performance

Shares of Mastercard stock opened at $519.38 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $473.52 billion, a price-to-earnings ratio of 37.39, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The stock’s 50-day moving average is $545.25 and its 200-day moving average is $522.03. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. Equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is 21.89%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Royal Bank of Canada upped their price target on Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley decreased their price target on Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Monness Crespi & Hardt raised shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price target for the company in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.11.

Mastercard Profile

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.