Suntrust Banks Inc. Sells 8,901 Shares of Pitney Bowes Inc. (PBI)
Suntrust Banks Inc. lowered its holdings in Pitney Bowes Inc. (NYSE:PBI) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,652 shares of the technology company’s stock after selling 8,901 shares during the period. Suntrust Banks Inc. owned approximately 0.07% of Pitney Bowes worth $1,987,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Nova Scotia bought a new stake in Pitney Bowes in the 1st quarter valued at about $216,000. HPM Partners LLC bought a new stake in Pitney Bowes in the 2nd quarter valued at about $429,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Pitney Bowes by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after purchasing an additional 748 shares during the period. Seven Eight Capital LP bought a new stake in Pitney Bowes in the 2nd quarter valued at about $108,000. Finally, IFP Advisors Inc boosted its holdings in Pitney Bowes by 74.4% in the 2nd quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock valued at $170,000 after purchasing an additional 4,793 shares during the period. 76.18% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes Inc. (PBI) opened at 14.01 on Friday. The firm has a market capitalization of $2.62 billion, a PE ratio of 27.52 and a beta of 1.20. Pitney Bowes Inc. has a 12 month low of $12.31 and a 12 month high of $18.24. The stock has a 50 day moving average of $12.79 and a 200 day moving average of $14.03.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The firm had revenue of $821.40 million during the quarter, compared to the consensus estimate of $822.90 million. During the same quarter last year, the business posted $0.39 earnings per share. Pitney Bowes’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts predict that Pitney Bowes Inc. will post $1.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a $0.1875 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.35%. Pitney Bowes’s dividend payout ratio (DPR) is currently 144.23%.
Several equities analysts have recently commented on PBI shares. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, August 2nd. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Loop Capital started coverage on shares of Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.50.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
Receive News & Ratings for Pitney Bowes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.