LifeWealth Investments LLC Purchases New Stake in Fifth Third Bancorp (NASDAQ:FITB)

LifeWealth Investments LLC purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,022 shares of the financial services provider's stock, valued at approximately $297,000.

A number of other large investors have also made changes to their positions in the stock. Capital A Wealth Management LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at about $54,000. Challenger Wealth Management acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $323,000. Ascent Group LLC boosted its stake in shares of Fifth Third Bancorp by 3.1% during the 4th quarter. Ascent Group LLC now owns 62,382 shares of the financial services provider's stock worth $2,638,000 after purchasing an additional 1,901 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Fifth Third Bancorp by 23.1% during the 4th quarter. Mackenzie Financial Corp now owns 81,461 shares of the financial services provider's stock worth $3,444,000 after purchasing an additional 15,265 shares during the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of Fifth Third Bancorp by 15.8% during the 4th quarter. Forum Financial Management LP now owns 16,611 shares of the financial services provider's stock worth $702,000 after purchasing an additional 2,267 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 1.3%

NASDAQ:FITB traded up $0.50 on Thursday, hitting $38.32. 3,127,175 shares of the company's stock traded hands, compared to its average volume of 4,505,951. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The firm has a 50-day moving average price of $36.81 and a 200-day moving average price of $41.39. The company has a market cap of $25.58 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS 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 during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the previous year, the business posted $0.70 EPS. Equities analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.86%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 46.98%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FITB shares. JPMorgan Chase & Co. decreased their target price on shares of 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. 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 target price on the stock. Jefferies Financial Group assumed coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $47.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $46.78.

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.