Nykredit A S Takes $11.68 Million Position in Fifth Third Bancorp $FITB

Key Points

• Nykredit A/S purchased 207,188 shares of Fifth Third Bancorp in the second quarter, valued at approximately $11.68 million. Institutional investors collectively own 83.79% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $60.54, above the stock’s reported $52.99 price.
• Fifth Third reported quarterly revenue of $3.26 billion, exceeding estimates, but EPS of $0.83 narrowly missed expectations. The company raised its quarterly dividend 5% to $0.42 per share, implying a 3.2% annualized yield.

Nykredit A S purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 207,188 shares of the financial services provider's stock, valued at approximately $11,679,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in Fifth Third Bancorp during the 2nd quarter worth $1,324,903,000. Bank of America Corp DE purchased a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $995,717,000. Norges Bank purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $649,264,000. Legal & General Group Plc bought a new position in shares of Fifth Third Bancorp during the second quarter valued at about $314,122,000. Finally, Wellington Management Group LLP lifted its position in shares of Fifth Third Bancorp by 20.2% during the second quarter. Wellington Management Group LLP now owns 23,653,758 shares of the financial services provider's stock valued at $1,333,362,000 after purchasing an additional 3,972,795 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FITB. Truist Financial upped their price objective on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on shares of Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Stephens assumed coverage on Fifth Third Bancorp in a research note on Monday, June 15th. They issued an "equal weight" rating and a $58.00 target price on the stock. DA Davidson upped their target price on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $58.00 to $60.00 and gave the company a "market perform" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.54.

Fifth Third Bancorp Stock Up 0.1%

Fifth Third Bancorp stock opened at $52.99 on Monday. The firm has a 50 day moving average price of $56.03 and a 200-day moving average price of $52.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $59.50. The company has a market capitalization of $48.05 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.09 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp's revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.42 dividend. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.68 annualized dividend and a yield of 3.2%. Fifth Third Bancorp's payout ratio is 54.61%.

More Fifth Third Bancorp News

Here are the key news stories impacting Fifth Third Bancorp this week:

• Positive Sentiment: Common dividend raised 5%: Fifth Third increased its quarterly common-stock dividend by $0.02 to $0.42 per share, payable October 15 to shareholders of record September 30. The annualized yield is approximately 3.2%, signaling confidence in capital generation and providing additional income support. Fifth Third Bancorp increases quarterly cash dividend
• Positive Sentiment: Comerica integration remains a potential earnings catalyst: Management reiterated its target of achieving $850 million in annualized expense synergies by the fourth quarter of 2026. Fifth Third also sees more than $500 million in revenue opportunities, with the cost savings expected to support earnings growth in 2027. Fifth Third eyes expense synergies and revenue opportunity
• Neutral Sentiment: Preferred-stock dividends declared: Fifth Third declared regular dividends on several preferred securities, including Series A, I, K and M. These payments demonstrate continued servicing of the capital structure but have limited direct impact on common-stock valuation.
• Neutral Sentiment: Manhattan expansion: Fifth Third is expanding its New York City office footprint, which could improve commercial-banking growth prospects but may also add operating costs before benefits materialize. Fifth Third Bank expands Manhattan office footprint
• Negative Sentiment: Recent earnings provided a modest overhang: Fifth Third’s latest quarterly EPS of $0.83 missed consensus by one cent, while EPS declined from $0.88 a year earlier. Although revenue exceeded estimates and rose sharply year over year, the earnings miss may be limiting the stock’s response to the dividend increase.

About Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Fifth Third Bank, the company provides banking and financial services to individuals, businesses, governments and institutional clients.

Its offerings include checking and savings accounts, mortgages, home equity loans, consumer lending, credit cards, commercial loans, treasury management and other business banking services. Fifth Third also provides wealth management, investment advisory, brokerage, trust and asset-management services, as well as capital markets and investment banking capabilities for corporate and institutional customers.

Fifth Third Bank operates through a branch and digital banking network primarily serving communities across the Midwest and Southeast, including markets in Ohio, Michigan, Florida, Georgia, Illinois, Indiana, Kentucky, North Carolina, South Carolina, Tennessee and West Virginia.

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