M&T Bank Corp Sells 176 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

M&T Bank Corp trimmed its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,302 shares of the financial services provider’s stock after selling 176 shares during the quarter. M&T Bank Corp’s holdings in Interactive Brokers Group were worth $1,575,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Townsquare Capital LLC grew its stake in shares of Interactive Brokers Group by 1.2% in the third quarter. Townsquare Capital LLC now owns 5,456 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 67 shares during the period. Prime Capital Investment Advisors LLC grew its position in Interactive Brokers Group by 3.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,746 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 97 shares during the period. Boston Financial Mangement LLC raised its stake in Interactive Brokers Group by 5.4% during the 3rd quarter. Boston Financial Mangement LLC now owns 1,955 shares of the financial services provider’s stock valued at $272,000 after buying an additional 100 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in Interactive Brokers Group by 5.6% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,007 shares of the financial services provider’s stock valued at $280,000 after buying an additional 107 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Interactive Brokers Group by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 3,161 shares of the financial services provider’s stock worth $441,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IBKR shares. Piper Sandler reiterated an “overweight” rating and set a $163.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday, October 16th. UBS Group raised their price objective on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays upped their target price on shares of Interactive Brokers Group from $165.00 to $214.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Jefferies Financial Group lifted their price target on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group upped their price objective on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average target price of $166.13.

Interactive Brokers Group Stock Performance

Shares of IBKR stock opened at $179.49 on Friday. The stock has a fifty day simple moving average of $168.78 and a two-hundred day simple moving average of $140.02. Interactive Brokers Group, Inc. has a 52-week low of $78.93 and a 52-week high of $193.42. The firm has a market capitalization of $75.84 billion, a PE ratio of 27.40, a PEG ratio of 1.42 and a beta of 0.85.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 6.82 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, November 29th. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.27%.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.