First Trust Advisors LP Has $91.35 Million Stock Holdings in Fifth Third Bancorp $FITB

Key Points

• First Trust Advisors LP raised its stake in Fifth Third Bancorp by 2.5% in Q3 to 2,050,428 shares, valued at approximately $91.35 million (about 0.31% of the company).
• Several analysts have lifted price targets and issued buy ratings—Fifth Third has a consensus rating of "Moderate Buy" with an average price target of $56.91 (17 Buys, 3 Holds).
• Institutional ownership is high at 83.79%, while insiders own just 0.53%; EVP Jude Schramm recently sold 2,250 shares.

First Trust Advisors LP increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,050,428 shares of the financial services provider's stock after buying an additional 50,608 shares during the period. First Trust Advisors LP owned 0.31% of Fifth Third Bancorp worth $91,347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FITB. Wealthquest Corp increased its position in Fifth Third Bancorp by 2.3% in the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC lifted its position in shares of Fifth Third Bancorp by 3.9% during the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider's stock worth $276,000 after purchasing an additional 250 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Fifth Third Bancorp by 1.1% during the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider's stock valued at $1,011,000 after purchasing an additional 251 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider's stock valued at $272,000 after purchasing an additional 260 shares during the last quarter. Finally, Foster & Motley Inc. increased its holdings in shares of Fifth Third Bancorp by 1.7% in the third quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider's stock valued at $712,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial upped their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Janney Montgomery Scott lifted their target price on Fifth Third Bancorp from $51.00 to $56.25 and gave the company a "buy" rating in a research note on Wednesday, January 21st. DA Davidson boosted their target price on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Argus upped their price target on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group raised their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a "buy" rating in a report on Friday, December 19th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of "Moderate Buy" and an average price target of $56.91.

Fifth Third Bancorp Price Performance

FITB opened at $46.98 on Tuesday. The company has a fifty day moving average price of $50.65 and a two-hundred day moving average price of $46.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $55.44. The firm has a market capitalization of $42.37 billion, a PE ratio of 13.27, a P/E/G ratio of 0.96 and a beta of 0.96.

Insider Activity

In other news, EVP Jude Schramm sold 2,250 shares of the firm's stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares in the company, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by corporate insiders.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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