Heartland Bank & Trust Co Invests $1.01 Million in Fifth Third Bancorp (NASDAQ:FITB)

Heartland Bank & Trust Co bought a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 25,782 shares of the financial services provider's stock, valued at approximately $1,011,000.

Other institutional investors have also bought and sold shares of the company. Howard Capital Management Inc. raised its holdings in shares of Fifth Third Bancorp by 5.6% in the fourth quarter. Howard Capital Management Inc. now owns 5,170 shares of the financial services provider's stock worth $219,000 after buying an additional 274 shares during the period. Pinnacle Financial Partners Inc grew 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 valued at $366,000 after acquiring an additional 276 shares during the last quarter. Oxford Financial Group LTD. LLC lifted its position in shares of Fifth Third Bancorp by 3.1% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 10,341 shares of the financial services provider's stock worth $437,000 after purchasing an additional 313 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Fifth Third Bancorp by 2.3% during the fourth quarter. Gotham Asset Management LLC now owns 14,110 shares of the financial services provider's stock valued at $597,000 after purchasing an additional 316 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Fifth Third Bancorp by 0.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 51,109 shares of the financial services provider's stock worth $2,161,000 after purchasing an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. DA Davidson upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $42.00 to $47.00 in a report on Monday, June 9th. Barclays lowered their price target on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Jefferies Financial Group initiated coverage on Fifth Third Bancorp in a report on Wednesday, May 21st. They set a "buy" rating and a $47.00 price objective 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. Finally, JPMorgan Chase & Co. dropped their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.53.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.09 on Wednesday, hitting $40.68. 5,827,115 shares of the company's stock traded hands, compared to its average volume of 4,544,339. The firm's 50-day moving average price is $37.67 and its two-hundred day moving average price is $40.23. The firm has a market capitalization of $27.15 billion, a PE ratio of 12.91, a P/E/G ratio of 1.40 and a beta of 0.90. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.65% and a return on equity of 13.64%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter last year, the company posted $0.70 earnings per share. As a group, analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.64%. Fifth Third Bancorp's payout ratio is currently 46.98%.

Fifth Third Bancorp announced that its Board of Directors has approved a share repurchase program on Monday, June 16th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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.