Fifth Third Bancorp Raises Position in BILL Holdings, Inc. (NYSE:BILL)

Fifth Third Bancorp increased its holdings in BILL Holdings, Inc. (NYSE:BILL) by 134.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 749 shares of the company’s stock after buying an additional 429 shares during the period. Fifth Third Bancorp’s holdings in BILL were worth $34,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of BILL by 303.9% in the first quarter. GAMMA Investing LLC now owns 1,236 shares of the company’s stock worth $57,000 after buying an additional 930 shares in the last quarter. Farther Finance Advisors LLC increased its stake in BILL by 2,189.1% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock valued at $48,000 after acquiring an additional 1,007 shares during the last quarter. Washington Capital Management Inc. increased its stake in BILL by 98.4% in the first quarter. Washington Capital Management Inc. now owns 12,300 shares of the company’s stock valued at $564,000 after acquiring an additional 6,100 shares during the last quarter. MRA Advisory Group bought a new position in BILL in the first quarter valued at $370,000. Finally, Fluent Financial LLC bought a new position in BILL in the first quarter valued at $916,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

BILL Stock Up 2.4%

Shares of NYSE:BILL opened at $43.70 on Friday. The stock’s 50-day moving average price is $44.36 and its 200-day moving average price is $60.55. BILL Holdings, Inc. has a 12-month low of $36.55 and a 12-month high of $100.19. The stock has a market capitalization of $4.50 billion, a P/E ratio of -364.09, a price-to-earnings-growth ratio of 11.00 and a beta of 1.36. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43.

BILL (NYSE:BILL) last posted its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. The company had revenue of $358.22 million for the quarter, compared to analysts’ expectations of $355.85 million. BILL had a return on equity of 1.21% and a net margin of 2.70%. BILL’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. On average, equities analysts anticipate that BILL Holdings, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup reduced their target price on BILL from $88.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their target price on BILL from $43.00 to $40.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. Truist Financial assumed coverage on BILL in a research note on Monday, June 2nd. They issued a “hold” rating and a $47.00 target price on the stock. Robert W. Baird reduced their target price on BILL from $82.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Finally, Keefe, Bruyette & Woods reduced their target price on BILL from $77.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, BILL has an average rating of “Moderate Buy” and an average target price of $62.75.

Insider Buying and Selling

In related news, SVP Germaine Cota sold 1,718 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $42.55, for a total value of $73,100.90. Following the sale, the senior vice president now directly owns 9,512 shares of the company’s stock, valued at $404,735.60. This trade represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by insiders.

BILL Company Profile

BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency.