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Twinbeech Capital LP Acquires New Stake in Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp logo with Finance background

Twinbeech Capital LP acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,482 shares of the financial services provider's stock, valued at approximately $612,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $29,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $29,000. Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Y.D. More Investments Ltd boosted its stake in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 449 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

FITB stock traded down $0.24 during midday trading on Wednesday, reaching $37.90. The company had a trading volume of 809,907 shares, compared to its average volume of 4,488,817. The company has a market capitalization of $25.30 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The stock has a 50 day moving average price of $36.84 and a 200-day moving average price of $41.41.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. The business had revenue of $2.14 billion during 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 quarter in the prior year, the firm posted $0.70 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is presently 46.98%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price for the company in a report on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Baird R W upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. TD Cowen started coverage on Fifth Third Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $52.00 price objective on the stock. Finally, Morgan Stanley dropped their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.78.

Get Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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