Fifth Third Bancorp Grows Stake in eBay Inc. (NASDAQ:EBAY)

Posted by on Apr 9th, 2023

Fifth Third Bancorp lifted its position in eBay Inc. (NASDAQ:EBAY – Get Rating) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,345 shares of the e-commerce company’s stock after purchasing an additional 3,078 shares during the quarter. Fifth Third Bancorp’s holdings in eBay were worth $1,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EBAY. Daymark Wealth Partners LLC purchased a new position in shares of eBay during the fourth quarter worth about $1,170,000. Pinnacle Associates Ltd. bought a new stake in eBay during the fourth quarter valued at approximately $240,000. Lindbrook Capital LLC grew its stake in eBay by 63.1% in the 4th quarter. Lindbrook Capital LLC now owns 2,255 shares of the e-commerce company’s stock worth $94,000 after buying an additional 872 shares in the last quarter. Penn Davis Mcfarland Inc. increased its holdings in shares of eBay by 1.0% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 29,136 shares of the e-commerce company’s stock worth $1,208,000 after buying an additional 299 shares during the last quarter. Finally, Osborne Partners Capital Management LLC purchased a new stake in shares of eBay during the 4th quarter valued at $218,000. Hedge funds and other institutional investors own 85.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on EBAY shares. Deutsche Bank Aktiengesellschaft reduced their target price on eBay from $55.00 to $50.00 in a research note on Thursday, February 23rd. Cowen reduced their price objective on eBay from $48.00 to $46.00 in a research report on Thursday, February 23rd. Piper Sandler boosted their target price on eBay from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Bank of America increased their price target on shares of eBay from $44.00 to $52.00 in a research report on Tuesday, February 21st. Finally, Morgan Stanley boosted their price objective on shares of eBay from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, eBay has an average rating of “Hold” and a consensus target price of $49.13.

eBay Stock Down 0.6 %

NASDAQ EBAY opened at $43.57 on Friday. eBay Inc. has a 1 year low of $35.92 and a 1 year high of $56.23. The stock has a market capitalization of $23.39 billion, a PE ratio of -20.46, a PEG ratio of 1.43 and a beta of 1.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.18 and a quick ratio of 2.18. The business’s 50-day moving average is $45.62 and its 200 day moving average is $43.32.

eBay (NASDAQ:EBAY – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The e-commerce company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.46 billion. eBay had a positive return on equity of 34.14% and a negative net margin of 12.96%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Sell-side analysts forecast that eBay Inc. will post 3.36 earnings per share for the current year.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This is a positive change from eBay’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.30%. eBay’s dividend payout ratio is -46.95%.

eBay Company Profile

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eBay, Inc is a commerce company, whose platforms include an online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. Its technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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