Fifth Third Bancorp Raises Stock Position in eBay Inc. (NASDAQ:EBAY)

Fifth Third Bancorp increased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,779 shares of the e-commerce company’s stock after purchasing an additional 1,630 shares during the period. Fifth Third Bancorp’s holdings in eBay were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in eBay by 12.4% during the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock valued at $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP grew its position in eBay by 25.6% during the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after buying an additional 2,277,839 shares during the period. Dimensional Fund Advisors LP grew its position in eBay by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock valued at $435,665,000 after buying an additional 245,624 shares during the period. Northern Trust Corp grew its position in eBay by 17.8% during the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock valued at $421,834,000 after buying an additional 1,030,292 shares during the period. Finally, Victory Capital Management Inc. grew its position in eBay by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock valued at $367,767,000 after buying an additional 82,904 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Daiwa Capital Markets upgraded shares of eBay from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, May 12th. Truist Financial raised their price target on shares of eBay from $62.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Evercore ISI lifted their target price on shares of eBay from $63.00 to $69.00 and gave the company an “in-line” rating in a research report on Thursday, May 1st. Susquehanna lifted their target price on shares of eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Finally, Bank of America dropped their target price on shares of eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.73.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total value of $77,267.07. Following the sale, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,308,946.80. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jamie Iannone sold 12,644 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $79.06, for a total transaction of $999,634.64. Following the completion of the sale, the chief executive officer now directly owns 325,053 shares in the company, valued at $25,698,690.18. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 296,279 shares of company stock valued at $20,872,193 over the last ninety days. Company insiders own 0.64% of the company’s stock.

eBay Price Performance

Shares of EBAY stock opened at $77.36 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50-day moving average is $70.22 and its two-hundred day moving average is $67.30. eBay Inc. has a 12 month low of $51.72 and a 12 month high of $79.84. The company has a market capitalization of $35.66 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.22 and a beta of 1.27.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. eBay had a net margin of 19.68% and a return on equity of 30.97%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. eBay’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts predict that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, May 30th. eBay’s dividend payout ratio (DPR) is presently 27.62%.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.