Tounjian Advisory Partners LLC Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Tounjian Advisory Partners LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,418 shares of the financial services provider's stock, valued at approximately $1,153,000.

Other large investors have also modified their holdings of the company. Howard Capital Management Inc. raised its stake 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 acquiring an additional 274 shares during the last quarter. Pinnacle Financial Partners Inc increased its holdings in shares of Fifth Third Bancorp by 3.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 8,653 shares of the financial services provider's stock valued at $366,000 after purchasing an additional 276 shares in the last quarter. Oxford Financial Group LTD. LLC raised its position in Fifth Third Bancorp by 3.1% in the 4th 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 position in Fifth Third Bancorp by 2.3% in the 4th quarter. Gotham Asset Management LLC now owns 14,110 shares of the financial services provider's stock valued at $597,000 after buying an additional 316 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of Fifth Third Bancorp by 0.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 51,109 shares of the financial services provider's stock worth $2,161,000 after acquiring an additional 322 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FITB. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Truist Financial reduced their price objective on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. DA Davidson reduced their price target on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. TD Cowen began coverage on Fifth Third Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Fifth Third Bancorp Stock Up 2.9%

NASDAQ:FITB opened at $39.41 on Monday. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day simple moving average of $36.65 and a 200 day simple moving average of $40.90. The company has a market cap of $26.31 billion, a PE ratio of 12.55, a PEG ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, sell-side analysts expect 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 dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.76%. Fifth Third Bancorp's payout ratio is presently 46.98%.

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.

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