Fifth Third Bancorp Increases Position in Block, Inc. $XYZ

Key Points

• Fifth Third Bancorp boosted its stake in Block by 1,115.3% in the first quarter, ending with 71,630 shares valued at about $4.31 million.
• Insider selling picked up, with Brian Grassadonia and director Anthony Mathew Eisen among those selling shares; insiders have sold 357,219 shares worth roughly $27.3 million over the past 90 days.
• Block reported better-than-expected quarterly results, posting $0.85 EPS on $6.06 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus price target of $88.64.

Fifth Third Bancorp increased its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 1,115.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,630 shares of the technology company's stock after acquiring an additional 65,736 shares during the quarter. Fifth Third Bancorp's holdings in Block were worth $4,311,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its holdings in shares of Block by 57.1% during the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Rachor Investment Advisory Services LLC purchased a new stake in shares of Block in the fourth quarter valued at $32,000. Cary Street Partners Investment Advisory LLC increased its stake in Block by 57.6% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock valued at $40,000 after purchasing an additional 223 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Block in the second quarter valued at $43,000. Finally, Osbon Capital Management LLC purchased a new position in Block during the fourth quarter worth about $43,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Grassadonia sold 43,348 shares of Block stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the sale, the insider directly owned 557,654 shares of the company's stock, valued at approximately $44,612,320. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 6,000 shares of the business's stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $78.35, for a total value of $470,100.00. Following the completion of the transaction, the director owned 1,838,672 shares in the company, valued at approximately $144,059,951.20. This trade represents a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 357,219 shares of company stock valued at $27,286,681 over the last 90 days. Insiders own 11.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on XYZ shares. Oppenheimer lowered Block from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Truist Financial increased their price objective on shares of Block from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Zacks Research raised shares of Block from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 10th. Cantor Fitzgerald raised their target price on shares of Block from $78.00 to $88.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group began coverage on shares of Block in a report on Tuesday, June 30th. They issued a "hold" rating for the company. Six analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.64.

Block Price Performance

Shares of XYZ stock opened at $80.00 on Friday. The firm has a fifty day simple moving average of $73.76 and a 200-day simple moving average of $66.62. The company has a market capitalization of $47.62 billion, a PE ratio of 62.50, a price-to-earnings-growth ratio of 1.01 and a beta of 2.54. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $84.08. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.55. Block had a net margin of 3.30% and a return on equity of 7.02%. The firm had revenue of $6.06 billion for the quarter. During the same period last year, the firm earned $0.56 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Equities research analysts anticipate that Block, Inc. will post 2.48 earnings per share for the current fiscal year.

About Block

Block NYSE: XYZ is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.

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