Associated Banc Corp Lowers Stake in Fiserv, Inc. (NYSE:FI)

Key Points

• Associated Banc Corp reduced its position in Fiserv, Inc. by 4.3% in the first quarter, now holding approximately 392,595 shares valued at $86.7 million.
• Analysts have issued mixed ratings for Fiserv, with a consensus price target of $207.08 and one “sell” rating, alongside several “overweight” ratings from firms like Barclays and JPMorgan.
• Fiserv reported quarterly earnings of $2.47 EPS, beating estimates, with a year-over-year revenue increase of 8.0% to $5.20 billion.

Associated Banc Corp lessened its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,595 shares of the business services provider's stock after selling 17,746 shares during the period. Fiserv comprises 2.6% of Associated Banc Corp's holdings, making the stock its 7th biggest holding. Associated Banc Corp owned approximately 0.07% of Fiserv worth $86,697,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vega Investment Solutions acquired a new stake in shares of Fiserv during the fourth quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in Fiserv during the 4th quarter worth approximately $28,000. Abound Financial LLC bought a new stake in Fiserv during the 1st quarter worth approximately $38,000. Quarry LP raised its stake in shares of Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Fiserv during the fourth quarter worth $54,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Stock Down 1.1%

Shares of NYSE:FI traded down $1.50 during trading on Thursday, reaching $132.54. 6,306,037 shares of the stock were exchanged, compared to its average volume of 6,911,371. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The stock has a fifty day moving average of $160.58 and a two-hundred day moving average of $190.74. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $72.05 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the business posted $2.13 EPS. Fiserv's quarterly revenue was up 8.0% on a year-over-year basis. Research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider owned 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FI. Truist Financial raised their target price on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. KeyCorp lowered their price objective on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Piper Sandler set a $218.00 price objective on Fiserv in a research note on Friday, April 25th. Tigress Financial increased their target price on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Mizuho lowered their price target on shares of Fiserv from $194.00 to $165.00 and set an "outperform" rating for the company in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $207.08.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.