Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4,271.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,203,362 shares of the financial services provider's stock after acquiring an additional 1,175,834 shares during the quarter. GAMMA Investing LLC owned 0.18% of Fifth Third Bancorp worth $47,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FITB. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp during the fourth quarter worth about $29,000. Quarry LP purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at $29,000. Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $33,000. Finally, REAP Financial Group LLC increased 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 valued at $33,000 after acquiring an additional 487 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded up $0.91 during mid-day trading on Friday, hitting $39.21. 1,473,559 shares of the company were exchanged, compared to its average volume of 4,507,896. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The stock has a 50 day simple moving average of $36.64 and a 200-day simple moving average of $41.03. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

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

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.77%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Barclays cut their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Citigroup reduced their price objective on 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. DA Davidson lowered their target price on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Cowen initiated coverage on Fifth Third Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group assumed 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $47.00.

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.