Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Czech National Bank

Czech National Bank lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,855 shares of the financial services provider's stock after buying an additional 8,468 shares during the quarter. Czech National Bank's holdings in Fifth Third Bancorp were worth $6,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Midwest Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $33,000. Finally, REAP Financial Group LLC grew its position in shares of Fifth Third Bancorp by 161.8% during the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FITB shares. Cowen assumed coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Truist Financial reduced their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. TD Cowen assumed coverage on Fifth Third Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $52.00 price objective on the stock. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective on the stock in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Fifth Third Bancorp Stock Performance

Shares of FITB traded up $1.11 during midday trading on Friday, hitting $39.41. 3,176,082 shares of the stock traded hands, compared to its average volume of 4,519,802. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The firm has a market capitalization of $26.31 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The business's 50 day moving average price is $36.65 and its two-hundred day moving average price is $40.98.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's payout ratio is currently 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.