Farringdon Capital Ltd. Invests $810,000 in Fifth Third Bancorp (NASDAQ:FITB)

Farringdon Capital Ltd. purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,167 shares of the financial services provider's stock, valued at approximately $810,000.

Several other large investors also recently modified their holdings of the stock. Eads & Heald Wealth Management raised its stake in Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock worth $347,000 after purchasing an additional 235 shares in the last quarter. Valley National Advisers Inc. grew its position in Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after buying an additional 236 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 246 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock worth $131,000 after purchasing an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Fifth Third Bancorp by 16.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 261 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Activity at Fifth Third Bancorp

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

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $1.18 during trading hours on Tuesday, hitting $34.50. The stock had a trading volume of 1,572,505 shares, compared to its average volume of 5,215,269. 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 has a one year low of $32.25 and a one year high of $49.07. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a 50 day simple moving average of $38.95 and a two-hundred day simple moving average of $42.60.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued 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 return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company posted $0.70 EPS. Research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.29%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FITB. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective on the stock in a report on Monday, April 7th. Barclays decreased their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Baird R W raised Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.71.

Fifth Third Bancorp Profile

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.