M&T Bank Corp Purchases Shares of 2,120 Futu Holdings Limited (NASDAQ:FUTU)

M&T Bank Corp acquired a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,120 shares of the company’s stock, valued at approximately $203,000.

Several other large investors also recently made changes to their positions in FUTU. SG Americas Securities LLC acquired a new stake in Futu in the 2nd quarter valued at $123,000. Bailard Inc. purchased a new stake in shares of Futu in the second quarter worth about $984,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Futu in the second quarter valued at about $50,000. Yong Rong HK Asset Management Ltd purchased a new position in Futu in the 2nd quarter worth approximately $985,000. Finally, GAM Holding AG acquired a new stake in Futu in the second quarter valued at approximately $525,000.

Futu Stock Performance

Shares of FUTU stock opened at $83.64 on Friday. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 0.88 and a beta of 0.72. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50. The company’s 50-day simple moving average is $91.18 and its 200-day simple moving average is $77.16.

Futu Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, December 6th.

Analyst Upgrades and Downgrades

FUTU has been the topic of several analyst reports. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Finally, Bank of America increased their price target on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.33.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.