Fifth Third Bancorp $FITB Stock Position Lifted by Barclays PLC

Key Points

• Barclays PLC raised its stake in Fifth Third Bancorp by 27% in Q3 to 3,947,246 shares, worth about $175.85 million and representing roughly 0.60% ownership.
• Analysts have a consensus rating of Moderate Buy with a $56.91 average price target, and several firms (Piper Sandler, Wells Fargo, UBS, Stephens) recently raised targets into the mid‑to‑high $50s.
• Fifth Third pays a $0.40 quarterly dividend ($1.60 annualized) for a 3.4% yield (45.2% payout ratio), and the stock trades at a PE of 13.36 with a market cap of $42.67 billion.

Barclays PLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 27.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,947,246 shares of the financial services provider's stock after purchasing an additional 840,094 shares during the period. Barclays PLC owned approximately 0.60% of Fifth Third Bancorp worth $175,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FITB. Evolution Wealth Management Inc. bought a new position in Fifth Third Bancorp in the 2nd quarter valued at about $26,000. Westside Investment Management Inc. raised its position in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider's stock worth $26,000 after buying an additional 292 shares in the last quarter. United Community Bank raised its position in shares of Fifth Third Bancorp by 581.0% during the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider's stock worth $30,000 after buying an additional 581 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth approximately $32,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Fifth Third Bancorp in the second quarter valued at approximately $48,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Fifth Third Bancorp from $50.00 to $57.00 and gave the company an "overweight" rating in a research note on Wednesday, January 21st. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $52.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, January 5th. Wall Street Zen cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. UBS Group reissued a "buy" rating and issued a $59.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. Finally, Stephens upped their price objective on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, December 18th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.91.

Insider Activity

In related news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Fifth Third Bancorp Stock Down 2.8%

FITB stock opened at $47.31 on Friday. The firm has a market cap of $42.67 billion, a PE ratio of 13.36, a P/E/G ratio of 0.96 and a beta of 0.96. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $50.67 and a 200 day simple moving average of $46.56.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.4%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 45.20%.

About Fifth Third Bancorp

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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