Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Kapstone Financial Advisors LLC

Kapstone Financial Advisors LLC increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 148.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,068 shares of the financial services provider's stock after acquiring an additional 9,000 shares during the period. Kapstone Financial Advisors LLC's holdings in Fifth Third Bancorp were worth $591,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after acquiring an additional 812,385 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock valued at $715,219,000 after purchasing an additional 285,910 shares during the period. Boston Partners raised its holdings in Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after buying an additional 823,803 shares during the period. First Trust Advisors LP lifted its position in shares of Fifth Third Bancorp by 12.1% in the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after acquiring an additional 1,027,044 shares in the last quarter. Finally, Norges Bank acquired a new stake in Fifth Third Bancorp during the 4th quarter valued at $371,836,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, April 21st. 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 report on Monday, April 7th. Citigroup dropped their price target on shares of 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. 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 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Fifth Third Bancorp has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Fifth Third Bancorp Trading Down 0.4%

Shares of FITB stock opened at $38.30 on Friday. The company has a market capitalization of $25.56 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $36.64 and a 200 day moving average price of $41.03.

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

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.86%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 46.98%.

About Fifth Third Bancorp

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.

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