Universal Beteiligungs und Servicegesellschaft mbH Takes $15.15 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 358,330 shares of the financial services provider's stock, valued at approximately $15,150,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.05% of Fifth Third Bancorp at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FITB. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Quarry LP acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $33,000. Finally, REAP Financial Group LLC lifted its holdings in Fifth Third Bancorp by 161.8% in the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock valued at $33,000 after buying an additional 487 shares during the period. 83.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on FITB. Truist Financial cut 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 report on Tuesday, April 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Barclays cut their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. DA Davidson cut their target price on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Cowen assumed coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Fifth Third Bancorp Stock Up 2.1%

Fifth Third Bancorp stock traded up $0.81 during mid-day trading on Tuesday, reaching $38.89. The company's stock had a trading volume of 4,051,949 shares, compared to its average volume of 4,506,916. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The business's 50 day simple moving average is $36.67 and its 200 day simple moving average is $41.10. 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 (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 last year, the firm earned $0.70 earnings per share. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

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.