Global Payments Inc. $GPN Shares Sold by First Hawaiian Bank

Key Points

• First Hawaiian Bank sold 46.7% of its shares in Global Payments Inc., reducing its holdings to 10,365 shares worth approximately $1,015,000.
• Global Payments reported $3.10 earnings per share for the last quarter, exceeding analysts' expectations of $3.06, while quarterly revenue was up 1.6% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 1.2%, with the payout ratio currently at 17.48%.

First Hawaiian Bank decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 46.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,365 shares of the business services provider's stock after selling 9,070 shares during the quarter. First Hawaiian Bank's holdings in Global Payments were worth $1,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GPN. NBC Securities Inc. purchased a new position in Global Payments during the first quarter worth about $30,000. Larson Financial Group LLC lifted its holdings in shares of Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after acquiring an additional 317 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Global Payments in the first quarter worth approximately $37,000. Quarry LP acquired a new stake in shares of Global Payments in the first quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC grew its holdings in Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after purchasing an additional 438 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Price Performance

GPN stock opened at $85.35 on Friday. The stock has a 50-day simple moving average of $84.15 and a 200-day simple moving average of $83.96. The firm has a market cap of $20.71 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the business earned $2.93 EPS. Global Payments's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is presently 17.48%.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the transaction, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GPN. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods lifted their target price on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. KeyCorp reissued an "overweight" rating and set a $100.00 price target (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. TD Cowen downgraded Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, UBS Group boosted their target price on Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $112.21.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

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