Free Trial

Asset Management One Co. Ltd. Grows Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp logo with Finance background

Asset Management One Co. Ltd. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,137 shares of the financial services provider's stock after buying an additional 10,515 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Fifth Third Bancorp were worth $10,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners lifted its holdings in Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after acquiring an additional 823,803 shares during the period. Deutsche Bank AG increased its position in shares of Fifth Third Bancorp by 27.3% during the 4th quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider's stock valued at $86,535,000 after purchasing an additional 438,446 shares during the last quarter. AMJ Financial Wealth Management lifted its stake in shares of Fifth Third Bancorp by 4.2% in the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock worth $9,843,000 after purchasing an additional 9,401 shares during the period. Heartland Bank & Trust Co bought a new position in shares of Fifth Third Bancorp in the 1st quarter worth approximately $1,011,000. Finally, Banco Santander S.A. purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $357,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FITB. Cowen began coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $48.00 to $52.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Jefferies Financial Group started coverage on Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $47.00 target price on the stock. Citigroup cut their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Baird R W raised Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.53.

Check Out Our Latest Stock Analysis on FITB

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $0.38 during mid-day trading on Monday, hitting $41.13. The company had a trading volume of 5,524,080 shares, compared to its average volume of 4,567,030. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80. The stock's 50 day moving average price is $38.24 and its 200-day moving average price is $40.05. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The company has a market capitalization of $27.45 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.43 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced 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 net margin of 17.65% and a return on equity of 13.64%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm posted $0.70 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.60%. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Fifth Third Bancorp announced that its board has initiated a share buyback program on Monday, June 16th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

About Fifth Third Bancorp

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

Should You Invest $1,000 in Fifth Third Bancorp Right Now?

Before you consider Fifth Third Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fifth Third Bancorp wasn't on the list.

While Fifth Third Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Pelosi Makes Big Bet on Broadcom—Here’s Why It Matters
This Strategy Beat the S&P—And Most Investors Ignore It
NVDA Greenlight: China Sales Spark 50% Rally Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines