Venture Visionary Partners LLC Has $3.62 Million Position in Fifth Third Bancorp $FITB

Key Points

• Venture Visionary Partners LLC reduced its holdings in Fifth Third Bancorp by 46.4% in the first quarter, selling 80,049 shares and now owning 92,445 shares valued at approximately $3.6 million.
• Fifth Third Bancorp has received multiple broker upgrades, with a consensus target price now set at $47.80 and a majority of analysts rating the stock as a "Buy" or "Strong Buy."
• The company recently announced a $1.48 annualized dividend with a yield of 3.5%, and initiated a share buyback program authorizing the repurchase of up to 100 million shares.

Venture Visionary Partners LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 46.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,445 shares of the financial services provider's stock after selling 80,049 shares during the quarter. Venture Visionary Partners LLC's holdings in Fifth Third Bancorp were worth $3,624,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Credit Agricole S A lifted its position in Fifth Third Bancorp by 35.5% in the first quarter. Credit Agricole S A now owns 258,205 shares of the financial services provider's stock worth $10,122,000 after purchasing an additional 67,651 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Fifth Third Bancorp by 0.5% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 96,414 shares of the financial services provider's stock worth $3,779,000 after purchasing an additional 451 shares in the last quarter. Groupama Asset Managment grew its position in Fifth Third Bancorp by 11.9% during the 1st quarter. Groupama Asset Managment now owns 50,503 shares of the financial services provider's stock worth $1,960,000 after purchasing an additional 5,377 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Fifth Third Bancorp by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 28,190 shares of the financial services provider's stock worth $1,105,000 after purchasing an additional 2,215 shares in the last quarter. Finally, PL Capital Advisors LLC grew its position in Fifth Third Bancorp by 3.6% during the 1st quarter. PL Capital Advisors LLC now owns 45,600 shares of the financial services provider's stock worth $1,788,000 after purchasing an additional 1,600 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 4.5%

Shares of FITB stock traded up $1.91 on Friday, hitting $44.79. The stock had a trading volume of 4,092,416 shares, compared to its average volume of 3,516,230. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.76. The firm has a market cap of $29.65 billion, a P/E ratio of 13.91, a PEG ratio of 1.45 and a beta of 0.91. The company has a fifty day moving average price of $42.06 and a two-hundred day moving average price of $39.88.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, June 30th. Fifth Third Bancorp's payout ratio is 45.96%.

Fifth Third Bancorp declared that its board has authorized a share repurchase plan on Monday, June 16th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on FITB. TD Cowen assumed coverage on shares of Fifth Third Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $52.00 target price for the company. Cowen initiated coverage on shares of Fifth Third Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Jefferies Financial Group began coverage on Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $47.00 target price on the stock. DA Davidson upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $42.00 to $47.00 in a research report on Monday, June 9th. Finally, Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.80.

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.