Fifth Third Bancorp Has $930,000 Stock Holdings in ScanSource, Inc. $SCSC

Fifth Third Bancorp lifted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 12,457.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 25,617 shares of the industrial products company’s stock after buying an additional 25,413 shares during the quarter. Fifth Third Bancorp’s holdings in ScanSource were worth $930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SCSC. Canada Pension Plan Investment Board acquired a new position in ScanSource in the 2nd quarter valued at about $25,000. Royal Bank of Canada lifted its position in ScanSource by 165.0% during the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 1,168 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,670 shares during the period. Tower Research Capital LLC TRC grew its position in shares of ScanSource by 672.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 4,032 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of ScanSource by 12.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Performance

NASDAQ SCSC opened at $54.88 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.12 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.85 and a beta of 1.28. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $55.84. The firm has a 50-day moving average price of $49.64 and a two-hundred day moving average price of $42.63.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The company had revenue of $758.59 million for the quarter, compared to analysts’ expectations of $738.55 million. During the same period last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts anticipate that ScanSource, Inc. will post 3.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ScanSource currently has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.