Bank Julius Baer & Co. Ltd Zurich Takes $1.34 Million Position in Fifth Third Bancorp $FITB

Key Points

• Bank Julius Baer disclosed a new fourth-quarter stake in Fifth Third Bancorp, buying 28,258 shares worth about $1.34 million.
• Fifth Third Bancorp reported better-than-expected earnings of $0.83 per share, though revenue came in slightly below analyst estimates at $2.83 billion.
• The bank also declared a quarterly dividend of $0.40 per share, implying an annualized yield of about 3.4%.

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,258 shares of the financial services provider's stock, valued at approximately $1,341,000.

A number of other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $215,000. Allworth Financial LP grew its stake in shares of Fifth Third Bancorp by 79.2% in the fourth quarter. Allworth Financial LP now owns 23,360 shares of the financial services provider's stock valued at $1,093,000 after buying an additional 10,323 shares in the last quarter. Castle Rock Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $211,000. Ameritas Advisory Services LLC grew its stake in shares of Fifth Third Bancorp by 616.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 12,921 shares of the financial services provider's stock valued at $605,000 after buying an additional 11,117 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in Fifth Third Bancorp by 1.6% during the 4th quarter. Independent Advisor Alliance now owns 18,291 shares of the financial services provider's stock worth $856,000 after purchasing an additional 280 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.7%

FITB opened at $47.35 on Friday. Fifth Third Bancorp has a one year low of $36.64 and a one year high of $55.44. The company has a market cap of $42.91 billion, a P/E ratio of 15.89, a PEG ratio of 0.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The business's 50-day simple moving average is $47.77 and its 200-day simple moving average is $47.71.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.87. The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities research analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp's dividend payout ratio is 53.69%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup boosted their target price on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $57.00 target price on shares of Fifth Third Bancorp in a research note on Monday, May 4th. Argus boosted their target price on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Morgan Stanley lowered their target price on Fifth Third Bancorp from $67.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Finally, Robert W. Baird boosted their target price on Fifth Third Bancorp from $55.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of "Moderate Buy" and an average price target of $57.19.

Insider Buying and Selling

In related news, EVP Peter L. Sefzik sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president directly owned 189,382 shares of the company's stock, valued at $9,556,215.72. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the company's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company's stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company's stock.

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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