103,732 Shares in Fifth Third Bancorp $FITB Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC acquired 103,732 shares of Fifth Third Bancorp in the second quarter, valued at approximately $5.85 million. Institutional investors and hedge funds collectively own 83.79% of FITB shares.
• Fifth Third reported quarterly revenue of $3.26 billion, up 45.8% year over year, while earnings per share of $0.83 narrowly missed estimates by $0.01. Analysts expect approximately $4.10 in full-year EPS.
• The bank pays a quarterly dividend of $0.40 per share, representing a 2.9% yield, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $60.54.

Callan Family Office LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,732 shares of the financial services provider's stock, valued at approximately $5,847,000.

Several other institutional investors also recently bought and sold shares of FITB. Vanguard Group Inc. lifted its holdings in shares of Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider's stock valued at $3,929,647,000 after purchasing an additional 637,207 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Fifth Third Bancorp by 41.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider's stock valued at $1,664,013,000 after buying an additional 10,444,799 shares in the last quarter. Capital World Investors boosted its holdings in Fifth Third Bancorp by 5.6% in the fourth quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider's stock worth $1,523,650,000 after acquiring an additional 1,719,361 shares in the last quarter. State Street Corp grew its stake in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. State Street Corp now owns 31,437,600 shares of the financial services provider's stock worth $1,484,021,000 after acquiring an additional 101,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fifth Third Bancorp by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider's stock valued at $1,120,586,000 after acquiring an additional 530,489 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $54.76 on Friday. The firm's fifty day moving average is $56.54 and its two-hundred day moving average is $51.97. The firm has a market cap of $49.66 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.01). The company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The business's quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. Research analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 54.61%.

Analyst Ratings Changes

Several analysts have weighed in on FITB shares. Morgan Stanley boosted their target price on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Truist Financial upped their target price on Fifth Third Bancorp from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Bank of America lifted their price target on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Wall Street Zen raised Fifth Third Bancorp from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Finally, DA Davidson lifted their target price on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.54.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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