Fifth Third Bancorp Acquires 7,778 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 784,950 shares of the financial services provider's stock after purchasing an additional 7,778 shares during the period. Fifth Third Bancorp owned about 0.12% of Fifth Third Bancorp worth $30,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Visionary Horizons LLC purchased a new stake in Fifth Third Bancorp during the 1st quarter worth approximately $575,000. SG Americas Securities LLC increased its stake in Fifth Third Bancorp by 176.1% during the first quarter. SG Americas Securities LLC now owns 37,311 shares of the financial services provider's stock valued at $1,463,000 after purchasing an additional 23,796 shares during the last quarter. Ibex Wealth Advisors raised its stake in Fifth Third Bancorp by 6.1% during the first quarter. Ibex Wealth Advisors now owns 11,221 shares of the financial services provider's stock worth $440,000 after acquiring an additional 645 shares during the period. Sonora Investment Management Group LLC lifted its holdings in shares of Fifth Third Bancorp by 0.9% in the 1st quarter. Sonora Investment Management Group LLC now owns 60,481 shares of the financial services provider's stock worth $2,371,000 after purchasing an additional 537 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its stake in Fifth Third Bancorp by 17.9% in the first quarter. Accurate Wealth Management LLC now owns 12,788 shares of the financial services provider's stock valued at $501,000 after buying an additional 1,941 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Fifth Third Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $47.00 price objective for the company. Citigroup dropped their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. DA Davidson raised Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and raised their target price for the company from $42.00 to $47.00 in a research note on Monday. Truist Financial lowered their target price on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.53.

Fifth Third Bancorp Stock Down 2.6%

Fifth Third Bancorp stock traded down $1.00 during trading hours on Friday, hitting $37.98. The company had a trading volume of 3,076,942 shares, compared to its average volume of 4,482,215. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $25.35 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. The firm's fifty day moving average is $36.94 and its 200-day moving average is $40.75.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period in the prior year, the business posted $0.70 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.90%. Fifth Third Bancorp's dividend payout ratio is 46.98%.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.