Fifth Third Bancorp Boosts Holdings in Pitney Bowes Inc. (NYSE:PBI)

Fifth Third Bancorp grew its position in Pitney Bowes Inc. (NYSE:PBI) by 3,412.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,648 shares of the technology company’s stock after purchasing an additional 16,174 shares during the period. Fifth Third Bancorp’s holdings in Pitney Bowes were worth $85,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in Pitney Bowes by 58.2% during the 4th quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock valued at $4,145,000 after purchasing an additional 349,599 shares during the last quarter. Steward Partners Investment Solutions LLC bought a new position in shares of Pitney Bowes during the fourth quarter valued at approximately $1,869,000. Contrarian Capital Management L.L.C. raised its holdings in shares of Pitney Bowes by 2.1% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after buying an additional 5,000 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Pitney Bowes by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock worth $957,000 after acquiring an additional 8,305 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Pitney Bowes by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock valued at $935,000 after acquiring an additional 19,690 shares during the period. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Price Performance

PBI stock opened at $7.38 on Monday. Pitney Bowes Inc. has a 12 month low of $2.80 and a 12 month high of $7.70. The firm’s 50-day moving average is $6.28 and its 200 day moving average is $5.12. The company has a market capitalization of $1.32 billion, a PE ratio of -3.40, a P/E/G ratio of 1.37 and a beta of 1.99.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The business had revenue of $793.17 million for the quarter, compared to analyst estimates of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. Sell-side analysts forecast that Pitney Bowes Inc. will post 0.35 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.