Hancock Holding Co. Has $1.07 Million Position in Pitney Bowes Inc. (PBI)
Hancock Holding Co. boosted its holdings in Pitney Bowes Inc. (NYSE:PBI) by 17.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,996 shares of the technology company’s stock after acquiring an additional 10,657 shares during the quarter. Hancock Holding Co.’s holdings in Pitney Bowes were worth $1,072,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in PBI. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 acquiring an additional 748 shares in the last quarter. Seven Eight Capital LP bought a new position in Pitney Bowes in the 2nd quarter valued at approximately $108,000. Trexquant Investment LP bought a new position in Pitney Bowes in the 1st quarter valued at approximately $149,000. IFP Advisors Inc lifted its position 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 acquiring an additional 4,793 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in Pitney Bowes by 23.0% in the 2nd quarter. D.A. Davidson & CO. now owns 12,300 shares of the technology company’s stock valued at $185,000 after acquiring an additional 2,300 shares in the last quarter. 76.18% of the stock is currently owned by institutional investors and hedge funds.
Pitney Bowes Inc. (NYSE PBI) opened at 14.01 on Friday. The company has a 50-day moving average price of $12.79 and a 200-day moving average price of $14.03. The company 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 one year low of $12.31 and a one year high of $18.24.
Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $821.40 million for the quarter, compared to analyst estimates of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Analysts expect that Pitney Bowes Inc. will post $1.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were given a dividend of $0.1875 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a yield of 5.35%. Pitney Bowes’s dividend payout ratio is presently 144.23%.
Several equities analysts recently issued reports on PBI shares. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub cut Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Sidoti raised Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, August 2nd. Finally, Loop Capital began coverage on Pitney Bowes in a report on Friday, July 28th. They set a “hold” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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.
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