National Bank of Canada FI Purchases Shares of 157,787 Pitney Bowes Inc. $PBI

Key Points

• National Bank of Canada FI acquired a new stake in Pitney Bowes Inc., purchasing 157,787 shares valued at approximately $1.43 million, representing 0.09% ownership.
• Pitney Bowes recently reported quarterly earnings of $0.27 EPS, meeting analysts' expectations, despite a 5.7% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.08 per share, an increase from the previous quarter, along with initiating a stock buyback plan authorizing $400 million in shares.

National Bank of Canada FI bought a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 157,787 shares of the technology company's stock, valued at approximately $1,428,000. National Bank of Canada FI owned approximately 0.09% of Pitney Bowes at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. American Assets Inc. boosted its stake in Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock valued at $941,000 after buying an additional 58,000 shares during the period. Wells Fargo & Company MN increased its position in shares of Pitney Bowes by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 126,424 shares of the technology company's stock worth $915,000 after purchasing an additional 18,373 shares during the last quarter. Bank of Montreal Can raised its stake in Pitney Bowes by 8.6% in the fourth quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock valued at $270,000 after purchasing an additional 2,962 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Pitney Bowes in the 4th quarter worth $358,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Pitney Bowes during the 4th quarter valued at $1,068,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PBI. Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Sidoti raised Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Pitney Bowes has a consensus rating of "Hold".

Insider Transactions at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares of the company's stock, valued at $1,401,016.70. This represents a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.00% of the company's stock.

Pitney Bowes Stock Down 0.7%

Shares of Pitney Bowes stock traded down $0.0750 during trading hours on Wednesday, reaching $11.3450. 1,487,053 shares of the stock traded hands, compared to its average volume of 2,625,633. Pitney Bowes Inc. has a one year low of $6.22 and a one year high of $13.11. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -18.89, a P/E/G ratio of 0.57 and a beta of 1.54. The company has a 50 day moving average price of $11.25 and a 200 day moving average price of $10.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting analysts' consensus estimates of $0.27. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The company had revenue of $461.91 million for the quarter, compared to analysts' expectations of $475.92 million. During the same period last year, the firm earned $0.03 EPS. Pitney Bowes's revenue for the quarter was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.32 annualized dividend and a yield of 2.8%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's payout ratio is currently -53.33%.

Pitney Bowes declared that its Board of Directors has authorized a share buyback program on Wednesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to buy up to 18.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.