Danske Bank A S Purchases 57,670 Shares of Fifth Third Bancorp $FITB

Key Points

• Danske Bank A/S raised its stake in Fifth Third Bancorp by 18% in Q4, purchasing 57,670 shares to hold 378,243 shares (about 0.06% of the company) valued at $17.706 million.
• Fifth Third reported EPS of $0.83 for the quarter, beating consensus by $0.87 while revenue of $2.86 billion slightly missed estimates, and analysts project roughly 4.1 EPS for the year.
• The stock offers a 3.2% dividend yield ($0.40 quarterly), has a $45.7 billion market cap, and carries an average analyst rating of "Moderate Buy" with a $57.19 price target.

Danske Bank A S increased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 18.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,243 shares of the financial services provider's stock after purchasing an additional 57,670 shares during the period. Danske Bank A S owned 0.06% of Fifth Third Bancorp worth $17,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FITB. Bank of America Corp DE boosted its stake in Fifth Third Bancorp by 16.7% in the 3rd quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider's stock worth $714,457,000 after purchasing an additional 2,293,939 shares in the last quarter. Capital World Investors boosted its stake in Fifth Third Bancorp by 6.2% in the 3rd quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider's stock worth $1,373,490,000 after purchasing an additional 1,803,861 shares in the last quarter. Barclays PLC boosted its stake in Fifth Third Bancorp by 27.0% in the 3rd quarter. Barclays PLC now owns 3,947,246 shares of the financial services provider's stock worth $175,850,000 after purchasing an additional 840,094 shares in the last quarter. OFI Invest Asset Management boosted its stake in Fifth Third Bancorp by 3,240.8% in the 4th quarter. OFI Invest Asset Management now owns 814,292 shares of the financial services provider's stock worth $38,117,000 after purchasing an additional 789,918 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Fifth Third Bancorp by 251.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 1,085,063 shares of the financial services provider's stock worth $44,629,000 after purchasing an additional 775,888 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

FITB opened at $50.46 on Monday. Fifth Third Bancorp has a 12-month low of $36.48 and a 12-month high of $55.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $45.70 billion, a PE ratio of 16.93, a P/E/G ratio of 1.03 and a beta of 0.94. The firm has a 50 day moving average of $48.11 and a two-hundred day moving average of $47.31.

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, beating the consensus estimate of ($0.04) by $0.87. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the previous year, the firm earned $0.71 EPS. On average, analysts anticipate 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 issued a dividend of $0.40 per share. 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 payout ratio is 53.69%.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent analyst reports. Citigroup lifted their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. TD Cowen reiterated a "buy" rating and issued a $60.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Morgan Stanley lowered their target price on shares of 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. Piper Sandler reissued an "overweight" rating and set a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Finally, Zacks Research raised shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.19.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction 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. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by insiders.

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.

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.