629,443 Shares in Fifth Third Bancorp $FITB Bought by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 629,443 shares of Fifth Third Bancorp during the second quarter, valued at approximately $35.5 million. Several other funds also initiated positions, while institutional investors and hedge funds collectively own 83.79% of the stock.
• Fifth Third reported quarterly revenue of $3.26 billion, up 45.8% year over year, but earnings of $0.83 per share narrowly missed analysts’ $0.84 estimate. The bank maintains a quarterly dividend of $0.40 per share, equivalent to a 2.9% yield.
• Shares opened at $54.51, below the analyst consensus target of $60.54. The stock carries a “Moderate Buy” consensus rating, with several firms recently raising their price targets to $65.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 629,443 shares of the financial services provider's stock, valued at approximately $35,482,000. B. Metzler seel. Sohn & Co. AG owned about 0.07% of Fifth Third Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Silvant Capital Management LLC purchased a new position in Fifth Third Bancorp during the 2nd quarter worth approximately $7,391,000. Oxford Financial Group LTD. LLC purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $637,000. Portfolio Design Labs LLC acquired a new position in Fifth Third Bancorp in the 2nd quarter worth about $275,000. Advisors Capital Management LLC purchased a new position in Fifth Third Bancorp during the second quarter worth approximately $1,224,000. Finally, PCM Encore LLC acquired a new stake in Fifth Third Bancorp in the second quarter valued at approximately $379,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.8%

FITB opened at $54.51 on Friday. The business has a fifty day simple moving average of $56.54 and a 200-day simple moving average of $51.95. Fifth Third Bancorp has a 52 week low of $40.04 and a 52 week high of $59.50. The firm has a market cap of $49.43 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.09 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

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

Fifth Third Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on FITB. Bank of America upped their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. UBS Group upped their price target on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Zacks Research lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Robert W. Baird boosted their price target on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Finally, DA Davidson increased their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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