Deutsche Bank AG Has $86.54 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Deutsche Bank AG increased its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,046,701 shares of the financial services provider's stock after acquiring an additional 438,446 shares during the period. Deutsche Bank AG owned approximately 0.31% of Fifth Third Bancorp worth $86,535,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.4%

NASDAQ:FITB traded up $0.15 during trading hours on Friday, reaching $39.64. The company's stock had a trading volume of 3,128,258 shares, compared to its average volume of 4,483,440. The company has a market cap of $26.46 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The business's 50-day moving average is $36.94 and its 200-day moving average is $41.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the prior year, the company earned $0.70 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.73%. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This represents a 14.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on FITB. Stephens reiterated an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their target price on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price on the stock in a research report on Monday, April 7th. Piper Sandler reiterated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays dropped their target price on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.56.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.