Czech National Bank Buys 8,468 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Czech National Bank raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 153,855 shares of the financial services provider's stock after buying an additional 8,468 shares during the period. Czech National Bank's holdings in Fifth Third Bancorp were worth $6,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners increased its position in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after acquiring an additional 823,803 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Fifth Third Bancorp by 27.3% during the 4th quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider's stock valued at $86,535,000 after purchasing an additional 438,446 shares during the period. AMJ Financial Wealth Management increased its position in shares of Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock valued at $9,843,000 after purchasing an additional 9,401 shares during the last quarter. Banco Santander S.A. bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $9,878,000. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research reports. TD Cowen initiated coverage on shares of Fifth Third Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $52.00 target price for the company. Wells Fargo & Company reduced their price objective on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. DA Davidson reduced their price target on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Cowen started coverage on Fifth Third Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Fifth Third Bancorp Trading Down 1.1%

Shares of Fifth Third Bancorp stock traded down $0.44 during trading on Wednesday, hitting $38.45. The stock had a trading volume of 2,191,752 shares, compared to its average volume of 4,497,690. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month 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's fifty day simple moving average is $36.67 and its 200-day simple moving average is $41.10. The stock has a market cap of $25.67 billion, a PE ratio of 12.25, a PEG ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during 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 quarter last year, the firm earned $0.70 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.85%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Fifth Third Bancorp Company 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.