Quantinno Capital Management LP Purchases 10,857 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Quantinno Capital Management LP raised its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,114 shares of the financial services provider's stock after purchasing an additional 10,857 shares during the period. Quantinno Capital Management LP's holdings in Fifth Third Bancorp were worth $3,641,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Eads & Heald Wealth Management boosted its position in shares of Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock valued at $347,000 after acquiring an additional 235 shares during the period. Valley National Advisers Inc. boosted its position in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 236 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 246 shares during the period. Brooklyn Investment Group boosted its position in shares of Fifth Third Bancorp by 9.1% in the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 257 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Fifth Third Bancorp by 16.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 261 shares during the period. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Trading Down 0.8%

Shares of NASDAQ FITB traded down $0.31 during mid-day trading on Friday, hitting $37.20. The stock had a trading volume of 2,974,973 shares, compared to its average volume of 4,506,003. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The business has a 50 day moving average price of $36.91 and a two-hundred day moving average price of $41.53. The firm has a market cap of $24.83 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is currently 46.98%.

Analyst Ratings Changes

FITB has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective 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. Stephens reiterated an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Truist Financial dropped their target price on shares of 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. Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.78.

Fifth Third Bancorp 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.