Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,461 shares of the financial services provider's stock after buying an additional 15,265 shares during the quarter. Mackenzie Financial Corp's holdings in Fifth Third Bancorp were worth $3,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Valley National Advisers Inc. boosted its stake in Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after buying an additional 236 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock worth $231,000 after acquiring an additional 246 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Fifth Third Bancorp by 16.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock worth $79,000 after purchasing an additional 261 shares during the period. Howard Capital Management Inc. grew its holdings in Fifth Third Bancorp by 5.6% during the 4th quarter. Howard Capital Management Inc. now owns 5,170 shares of the financial services provider's stock valued at $219,000 after purchasing an additional 274 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its position in Fifth Third Bancorp by 3.3% in the 4th quarter. Pinnacle Financial Partners Inc now owns 8,653 shares of the financial services provider's stock worth $366,000 after purchasing an additional 276 shares during the period. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded up $0.81 during trading hours on Tuesday, hitting $38.89. 4,051,949 shares of the company's stock were exchanged, compared to its average volume of 4,506,916. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The firm has a market cap of $25.96 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 0.89. 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 of $36.67 and a two-hundred day moving average of $41.10.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.17 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is presently 46.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FITB shares. Cowen started coverage on Fifth Third Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Morgan Stanley decreased their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. DA Davidson cut their price target on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, TD Cowen assumed coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target 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.