Fifth Third Bancorp Has $1.33 Million Stock Holdings in Global Payments Inc. $GPN

Fifth Third Bancorp decreased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,564 shares of the business services provider’s stock after selling 2,239 shares during the quarter. Fifth Third Bancorp’s holdings in Global Payments were worth $1,326,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GPN. NBC Securities Inc. acquired a new stake in Global Payments during the 1st quarter valued at $30,000. Larson Financial Group LLC lifted its holdings in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 317 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Global Payments during the 1st quarter valued at $37,000. Quarry LP acquired a new stake in Global Payments during the 1st quarter valued at $42,000. Finally, Golden State Wealth Management LLC lifted its holdings in Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the transaction, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.01% of the stock is currently owned by corporate insiders.

Global Payments Stock Down 0.6%

Shares of NYSE GPN opened at $84.43 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The stock has a market capitalization of $20.48 billion, a P/E ratio of 14.76, a PEG ratio of 0.80 and a beta of 0.97. The stock’s fifty day moving average is $85.15 and its 200 day moving average is $82.99.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the business earned $2.93 earnings per share. Global Payments’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 12th. Global Payments’s payout ratio is currently 17.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD Cowen downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. B. Riley reissued a “buy” rating on shares of Global Payments in a report on Wednesday, July 16th. Evercore ISI lifted their target price on Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. KeyCorp reissued an “overweight” rating and set a $100.00 target price (up previously from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $103.75.

Global Payments Company Profile

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 two segments, Merchant Solutions and Issuer 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.