Sapient Capital LLC Has $10.21 Million Stock Position in Fifth Third Bancorp $FITB

Key Points

• Sapient Capital LLC cut its Fifth Third Bancorp position by 18.1% in the first quarter, selling 48,146 shares and retaining 218,033 shares valued at approximately $10.21 million. Institutional investors collectively own 83.79% of FITB.
• Analysts remain broadly positive, with an overall “Moderate Buy” rating and an average price target of $60.54; UBS, Barclays and Robert W. Baird recently raised their targets.
• Fifth Third reported quarterly revenue of $3.26 billion, up 45.8% year over year, though earnings of $0.83 per share narrowly missed estimates. The bank pays a quarterly dividend of $0.40 per share, equivalent to a 2.8% yield.

Sapient Capital LLC reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 18.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 218,033 shares of the financial services provider's stock after selling 48,146 shares during the period. Sapient Capital LLC's holdings in Fifth Third Bancorp were worth $10,212,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. bought a new position in shares of Fifth Third Bancorp in the first quarter valued at approximately $25,000. SouthState Bank Corp increased its holdings in Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in Fifth Third Bancorp during the 4th quarter valued at $29,000. Leonteq Securities AG bought a new position in Fifth Third Bancorp in the 4th quarter valued at $30,000. Finally, Reflection Asset Management acquired a new position in Fifth Third Bancorp in the fourth quarter worth $30,000. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FITB. UBS Group increased their target price on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Weiss Ratings raised Fifth Third Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 1st. Barclays increased their price objective on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, April 20th. Argus upgraded shares of Fifth Third Bancorp to a "strong-buy" rating in a research report on Wednesday, July 22nd. Finally, Robert W. Baird boosted their target price on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.54.

Fifth Third Bancorp Trading Up 0.1%

Shares of FITB opened at $56.55 on Monday. 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 12-month low of $40.04 and a 12-month high of $59.50. The firm has a market capitalization of $51.25 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The stock's fifty day simple moving average is $54.80 and its 200-day simple moving average is $51.25.

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

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp's payout ratio is currently 54.61%.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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