Somebody is putting out figurative bait, hoping to figuratively catch what he's looking for. " Someone may be hoping to discover the truth about some rumor, and pretend to know something (the bait), attempting to trick someone into revealing the truth. There may be more specific meanings within more specific contexts.
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RobinG"he is trying to win compliments from others"?Right. Except that quite often, instead of doing good deeds to win them, he may engage in self-deprecation, expecting others to reassure him with kind words.
RobinG What does the sentence"somebody is fishing" mean from a non-literal perspective?It may be worth noting that the practice of putting out bait to trick people on the net into revealing their personal information has become so common, it has its own spelling: "phishing." It's the same basic idea.