Amundi Buys 402,734 Shares of Fifth Third Bancorp $FITB

Amundi increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,670,046 shares of the financial services provider's stock after acquiring an additional 402,734 shares during the quarter. Amundi owned approximately 0.18% of Fifth Third Bancorp worth $77,590,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Empowered Funds LLC increased its position in Fifth Third Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider's stock valued at $543,000 after buying an additional 916 shares in the last quarter. Woodline Partners LP boosted its holdings in Fifth Third Bancorp by 40.5% in the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider's stock worth $2,218,000 after acquiring an additional 16,323 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Fifth Third Bancorp by 45.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider's stock worth $100,000 after acquiring an additional 759 shares in the last quarter. Brown Advisory Inc. grew its stake in Fifth Third Bancorp by 5.0% in the second quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider's stock valued at $422,000 after acquiring an additional 484 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in Fifth Third Bancorp in the second quarter valued at approximately $968,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their target price on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Zacks Research lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group raised their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $60.54.

Fifth Third Bancorp Stock Down 0.1%

Fifth Third Bancorp stock opened at $56.55 on Friday. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $59.50. The stock has a market cap of $51.25 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The firm's 50-day simple moving average is $54.80 and its 200 day simple moving average is $51.23. 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 (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.24 billion. During the same quarter last year, the business posted $0.88 EPS. The company's quarterly revenue was up 45.8% on a year-over-year basis. Research analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is 54.61%.

Fifth Third Bancorp 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.

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.