Truist Financial Corp Invests $123,000 in Pitney Bowes Inc. $PBI

Truist Financial Corp bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,230 shares of the technology company’s stock, valued at approximately $123,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in Pitney Bowes during the first quarter worth about $36,000. KBC Group NV purchased a new position in Pitney Bowes during the first quarter worth about $65,000. United Services Automobile Association purchased a new position in Pitney Bowes during the first quarter worth about $96,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Pitney Bowes during the first quarter worth about $98,000. Finally, American National Bank & Trust purchased a new position in Pitney Bowes during the second quarter worth about $131,000. 67.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the transaction, the director directly owned 3,000 shares in the company, valued at approximately $35,910. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.00% of the stock is currently owned by insiders.

Pitney Bowes Stock Up 1.1%

PBI opened at $11.26 on Friday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -18.77, a PEG ratio of 0.58 and a beta of 1.27. Pitney Bowes Inc. has a twelve month low of $6.88 and a twelve month high of $13.11. The company’s 50-day moving average price is $11.56 and its two-hundred day moving average price is $10.58.

Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $461.91 million for the quarter, compared to analysts’ expectations of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes announced that its board has initiated a stock repurchase plan on Wednesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 18.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were paid a $0.08 dividend. The ex-dividend date was Monday, August 11th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. Pitney Bowes’s dividend payout ratio is presently -53.33%.

Analyst Ratings Changes

PBI has been the topic of several analyst reports. Wall Street Zen cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Pitney Bowes in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Pitney Bowes Company 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.