Equitable Holdings Inc. Makes New $1.41 Million Investment in Fifth Third Bancorp $FITB

Equitable Holdings Inc. bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 25,070 shares of the financial services provider's stock, valued at approximately $1,413,000.

Other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its position 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 increased its stake in shares of Fifth Third Bancorp by 33.2% in the first quarter. Keybank National Association OH now owns 85,781 shares of the financial services provider's stock valued at $3,985,000 after purchasing an additional 21,365 shares during the period. Geode Capital Management LLC raised its holdings 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 valued at $848,672,000 after buying an additional 96,656 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $1,514,000. Finally, Fruth Investment Management boosted its position in shares of Fifth Third Bancorp by 335.2% during the first quarter. Fruth Investment Management now owns 27,210 shares of the financial services provider's stock worth $1,264,000 after buying an additional 20,957 shares during the period. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

FITB opened at $54.57 on Friday. The business has a 50 day moving average price of $56.74 and a two-hundred day moving average price of $52.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm's revenue for the quarter was up 45.8% compared to the same quarter last year. Research analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 2.9%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 54.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FITB. Wall Street Zen raised Fifth Third Bancorp from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Weiss Ratings upgraded Fifth Third Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 1st. Zacks Research cut Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Wells Fargo & Company raised their price target on Fifth Third Bancorp from $58.00 to $67.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Finally, Citigroup lifted their price objective on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of "Moderate Buy" and an average target price of $60.54.

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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