Hsbc Holdings PLC Buys 279,596 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hsbc Holdings PLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,276,130 shares of the financial services provider's stock after buying an additional 279,596 shares during the quarter. Hsbc Holdings PLC owned approximately 0.34% of Fifth Third Bancorp worth $96,290,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth about $28,000. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Y.D. More Investments Ltd raised its position in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after acquiring an additional 449 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Keefe, Bruyette & Woods decreased their price target on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company cut their price objective on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Stephens reaffirmed an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.24.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of the company's 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 approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Fifth Third Bancorp Trading Up 0.7 %

Shares of Fifth Third Bancorp stock traded up $0.25 during trading on Tuesday, reaching $36.00. The company's stock had a trading volume of 1,139,864 shares, compared to its average volume of 4,470,056. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The firm's 50-day moving average is $38.07 and its two-hundred day moving average is $42.35. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.42 and a beta of 0.99.

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

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.11%. Fifth Third Bancorp's payout ratio is currently 46.98%.

Fifth Third Bancorp Company 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.