Deutsche Bank AG Takes $145.23 Million Position in Fifth Third Bancorp $FITB

Key Points

• Deutsche Bank acquired 2.58 million shares of Fifth Third Bancorp worth approximately $145.2 million, giving it a 0.28% stake. Institutional investors collectively own 83.79% of FITB.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $60.54, compared with the stock’s opening price of $54.96.
• Fifth Third’s latest quarterly results slightly missed earnings expectations at $0.83 per share but exceeded revenue estimates with $3.26 billion, while revenue rose 45.8% year over year. The company also paid a quarterly dividend of $0.40 per share, representing a 2.9% yield.

Deutsche Bank AG acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,576,398 shares of the financial services provider's stock, valued at approximately $145,232,000. Deutsche Bank AG owned about 0.28% of Fifth Third Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in FITB. D.A. Davidson & CO. increased its holdings in Fifth Third Bancorp by 69.7% in the 1st quarter. D.A. Davidson & CO. now owns 50,783 shares of the financial services provider's stock valued at $2,359,000 after purchasing an additional 20,862 shares during the last quarter. Keybank National Association OH lifted its stake in Fifth Third Bancorp by 33.2% during the first quarter. Keybank National Association OH now owns 85,781 shares of the financial services provider's stock worth $3,985,000 after purchasing an additional 21,365 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fifth Third Bancorp by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider's stock worth $848,672,000 after buying an additional 96,656 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth $1,514,000. Finally, Fruth Investment Management grew its stake in shares of Fifth Third Bancorp by 335.2% in the first quarter. Fruth Investment Management now owns 27,210 shares of the financial services provider's stock valued at $1,264,000 after buying an additional 20,957 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. UBS Group raised their price objective on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Evercore set a $60.00 target price on shares of Fifth Third Bancorp in a research note on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Fifth Third Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.54.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $54.96 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. The company has a market capitalization of $49.84 billion, a PE ratio of 18.44, a P/E/G ratio of 1.09 and a beta of 0.91. The company has a fifty day moving average of $56.52 and a two-hundred day moving average of $51.92.

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 earnings per share 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 analyst estimates of $3.24 billion. During the same period in the previous year, the company posted $0.88 earnings per share. Fifth Third Bancorp's revenue was up 45.8% compared to the same quarter last year. As a group, analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company 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 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp's dividend payout ratio is currently 54.61%.

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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