Bokf Na Buys 24,570 Shares of Fifth Third Bancorp $FITB

Key Points

• Bokf Na raised its stake in Fifth Third Bancorp by 53.9%, buying an additional 24,570 shares to hold 70,118 shares worth about $3.28 million per its latest SEC filing.
• Fifth Third reported Q1 EPS of $0.83, beating estimates (consensus -$0.04) while revenue of $2.83B slightly missed expectations; the bank pays a quarterly dividend of $0.40 (annualized $1.60) for a ~3.2% yield.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $57.19, while shares trade near $49.67 and institutional ownership is about 83.8%.

Bokf Na raised its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 53.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,118 shares of the financial services provider's stock after acquiring an additional 24,570 shares during the period. Bokf Na's holdings in Fifth Third Bancorp were worth $3,282,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FITB. Westside Investment Management Inc. grew its position in Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 292 shares during the period. Harbor Investment Advisory LLC grew its position in Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 517 shares during the period. United Community Bank grew its position in Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 581 shares during the period. Quest 10 Wealth Builders Inc. grew its position in Fifth Third Bancorp by 619.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 632 shares during the period. Finally, Salomon & Ludwin LLC raised its position in Fifth Third Bancorp by 77.6% in the 4th quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 322 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Down 2.3%

NASDAQ FITB opened at $49.67 on Friday. The stock has a fifty day moving average of $48.03 and a 200-day moving average of $47.50. The stock has a market capitalization of $45.02 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. Fifth Third Bancorp has a 52 week low of $36.64 and a 52 week high of $55.44. 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 released its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.87. The company 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 period last year, the firm earned $0.71 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 53.69%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares of the company's stock, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction 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 sale, the executive vice president directly owned 189,382 shares of the company's stock, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FITB has been the subject of several research analyst reports. TD Cowen reiterated a "buy" rating and issued a $60.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, February 3rd. Wall Street Zen downgraded Fifth Third Bancorp from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Monday. Robert W. Baird lifted their price objective on Fifth Third Bancorp from $55.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Finally, Jefferies Financial Group lifted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of "Moderate Buy" and an average target price of $57.19.

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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