Universal Beteiligungs und Servicegesellschaft mbH Buys 314,666 Shares of Fifth Third Bancorp $FITB

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Fifth Third Bancorp by 97.9%, buying 314,666 shares to own 636,210 shares (about 0.10% of the company) valued at roughly $29.9 million.
• Fifth Third reported quarterly EPS of $0.83, beating the consensus by $0.87 while revenue of $2.86 billion slightly missed estimates, and the bank pays a $0.40 quarterly dividend (annualized $1.60) for a 3.1% yield.
• Shares trade near $50.89 with a market cap of $46.08 billion; analysts have a consensus rating of Moderate Buy and a $57.11 target, institutional investors own ~83.8%, and an EVP recently sold 6,000 shares.

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 97.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 636,210 shares of the financial services provider's stock after buying an additional 314,666 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.10% of Fifth Third Bancorp worth $29,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Fifth Third Bancorp by 62.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,651 shares of the financial services provider's stock worth $686,000 after purchasing an additional 5,651 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Fifth Third Bancorp by 77.6% in the fourth quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 322 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Fifth Third Bancorp by 197.2% in the fourth quarter. Evergreen Capital Management LLC now owns 50,906 shares of the financial services provider's stock valued at $2,403,000 after acquiring an additional 33,780 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Fifth Third Bancorp by 3.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 9,999 shares of the financial services provider's stock valued at $468,000 after acquiring an additional 327 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Fifth Third Bancorp by 32.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 212,603 shares of the financial services provider's stock valued at $9,952,000 after acquiring an additional 52,039 shares during the period. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Trading Up 0.7%

FITB stock opened at $50.89 on Friday. The company has a market capitalization of $46.08 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.05 and a beta of 0.95. Fifth Third Bancorp has a one year low of $34.80 and a one year high of $55.44. The company's 50 day moving average price is $48.40 and its two-hundred day moving average price is $47.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the firm posted $0.71 earnings per share. As a group, analysts predict that Fifth Third Bancorp will post 4.03 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp's payout ratio is presently 53.69%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FITB. TD Cowen reaffirmed a "buy" rating and issued a $60.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. UBS Group reaffirmed a "buy" rating and issued a $59.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. Weiss Ratings raised shares of Fifth Third Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Wolfe Research lowered their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. Finally, Wall Street Zen raised shares of Fifth Third Bancorp from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.11.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president directly owned 76,299 shares of the company's stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by insiders.

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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