Fifth Third Bancorp Has $1.70 Million Stock Holdings in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Jul 11th, 2023

Fifth Third Bancorp lifted its position in Global Payments Inc. (NYSE:GPN – Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,130 shares of the business services provider’s stock after acquiring an additional 1,075 shares during the period. Fifth Third Bancorp’s holdings in Global Payments were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GPN. American Century Companies Inc. raised its position in shares of Global Payments by 10.3% in the 1st quarter. American Century Companies Inc. now owns 6,136 shares of the business services provider’s stock valued at $840,000 after acquiring an additional 572 shares during the period. Private Advisor Group LLC raised its holdings in Global Payments by 7.7% during the 1st quarter. Private Advisor Group LLC now owns 3,942 shares of the business services provider’s stock worth $539,000 after buying an additional 281 shares during the period. Dimensional Fund Advisors LP raised its holdings in Global Payments by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,288,788 shares of the business services provider’s stock worth $176,366,000 after buying an additional 48,605 shares during the period. Vontobel Holding Ltd. raised its holdings in Global Payments by 259.7% during the 1st quarter. Vontobel Holding Ltd. now owns 17,285 shares of the business services provider’s stock worth $2,377,000 after buying an additional 12,479 shares during the period. Finally, Prudential PLC acquired a new stake in Global Payments during the 1st quarter worth approximately $766,000. 85.68% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Trading Up 0.4 %

GPN stock opened at $106.24 on Tuesday. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of -226.04, a price-to-earnings-growth ratio of 0.69 and a beta of 0.99. The company has a fifty day moving average price of $101.27 and a two-hundred day moving average price of $105.18. Global Payments Inc. has a one year low of $92.27 and a one year high of $136.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.92 and a quick ratio of 0.92.

Global Payments (NYSE:GPN – Get Free Report) last issued its earnings results on Monday, May 1st. The business services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.31 by $0.09. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.01 billion. Global Payments had a positive return on equity of 10.67% and a negative net margin of 1.58%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.97 earnings per share. Equities analysts anticipate that Global Payments Inc. will post 9.62 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, June 14th. Global Payments’s payout ratio is -212.76%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Susquehanna dropped their target price on shares of Global Payments from $190.00 to $180.00 in a report on Monday, June 5th. Barclays raised their target price on shares of Global Payments from $125.00 to $135.00 in a report on Monday. Jefferies Financial Group assumed coverage on shares of Global Payments in a report on Tuesday, June 13th. They set a “hold” rating and a $105.00 target price on the stock. Oppenheimer dropped their target price on shares of Global Payments from $123.00 to $122.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Finally, JPMorgan Chase & Co. started coverage on shares of Global Payments in a report on Tuesday, April 18th. They issued a “neutral” rating and a $124.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.30.

About Global Payments

(Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.