Fifth Third Bancorp (NASDAQ:FITB) Position Cut by GTS Securities LLC

GTS Securities LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 79.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,007 shares of the financial services provider's stock after selling 75,735 shares during the period. GTS Securities LLC's holdings in Fifth Third Bancorp were worth $846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $28,000. Quarry LP bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the 4th quarter worth $33,000. Finally, Y.D. More Investments Ltd raised its holdings in shares of Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 449 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on FITB. DA Davidson lowered their target price on shares of 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. Wells Fargo & Company reduced 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 research report on Monday, April 21st. Truist Financial reduced their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $47.00 price target on the stock. Finally, Barclays cut their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of "Moderate Buy" and an average target price of $46.78.

Fifth Third Bancorp Trading Up 1.3%

NASDAQ:FITB traded up $0.50 during mid-day trading on Thursday, reaching $38.32. The company's stock had a trading volume of 3,126,943 shares, compared to its average volume of 4,828,416. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The company's fifty day simple moving average is $36.81 and its two-hundred day simple moving average is $41.39. The stock has a market cap of $25.58 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating 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 analyst estimates of $2.17 billion. During the same period in the previous year, the company posted $0.70 EPS. On average, equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced 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 is presently 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.