Fifth Third Bancorp Has $13.45 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fifth Third Bancorp increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 303.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,602 shares of the credit services provider’s stock after buying an additional 118,527 shares during the period. Fifth Third Bancorp’s holdings in PayPal were worth $13,451,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PYPL. Rosenberg Matthew Hamilton grew its stake in shares of PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal during the 3rd quarter worth about $26,000. Sugarloaf Wealth Management LLC grew its position in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Planning Capital Management Corp increased its stake in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the period. Finally, Financial Management Professionals Inc. raised its position in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 0.7 %

Shares of NASDAQ:PYPL opened at $89.11 on Friday. The business’s 50 day moving average is $87.76 and its 200 day moving average is $77.79. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. The stock has a market cap of $89.34 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.54 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Monness Crespi & Hardt upped their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a research report on Friday, December 13th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Robert W. Baird increased their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Mizuho lifted their price objective on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.