Bangor Savings Bank Buys 110 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Bangor Savings Bank grew its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,374 shares of the financial services provider’s stock after acquiring an additional 110 shares during the quarter. Bangor Savings Bank’s holdings in MarketAxess were worth $1,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MKTX. abrdn plc boosted its position in MarketAxess by 111.4% in the fourth quarter. abrdn plc now owns 6,464 shares of the financial services provider’s stock worth $1,455,000 after purchasing an additional 3,407 shares during the last quarter. Mather Group LLC. grew its stake in shares of MarketAxess by 75.1% during the 4th quarter. Mather Group LLC. now owns 471 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 202 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in MarketAxess by 37.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,711 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 1,282 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in MarketAxess by 1.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,223 shares of the financial services provider’s stock valued at $17,229,000 after purchasing an additional 1,114 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in MarketAxess by 3.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,637 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 130 shares during the period. 99.01% of the stock is currently owned by institutional investors.

MarketAxess Stock Performance

Shares of NASDAQ MKTX opened at $222.22 on Friday. MarketAxess Holdings Inc. has a fifty-two week low of $186.84 and a fifty-two week high of $296.68. The business has a 50-day simple moving average of $218.37 and a two-hundred day simple moving average of $219.64. The company has a market cap of $8.33 billion, a PE ratio of 30.57, a P/E/G ratio of 3.89 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.05. The company had revenue of $208.58 million during the quarter, compared to analysts’ expectations of $211.81 million. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. MarketAxess’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. On average, sell-side analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Wednesday, May 21st. MarketAxess’s dividend payout ratio (DPR) is presently 52.87%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MKTX shares. Barclays lifted their price objective on MarketAxess from $232.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Wall Street Zen downgraded MarketAxess from a “hold” rating to a “sell” rating in a research report on Friday. Citigroup upped their price objective on MarketAxess from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Morgan Stanley upped their target price on MarketAxess from $263.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Bank of America upped their target price on MarketAxess from $189.00 to $191.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $241.78.

MarketAxess Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.