U.S. Capital Wealth Advisors LLC Purchases 15,692 Shares of Fifth Third Bancorp (NASDAQ:FITB)

U.S. Capital Wealth Advisors LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,392 shares of the financial services provider's stock after purchasing an additional 15,692 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Fifth Third Bancorp were worth $1,858,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Financial Counselors Inc. raised its position in shares of Fifth Third Bancorp by 1.3% during the first quarter. Financial Counselors Inc. now owns 245,376 shares of the financial services provider's stock worth $9,619,000 after acquiring an additional 3,148 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Fifth Third Bancorp by 4.8% during the first quarter. Envestnet Asset Management Inc. now owns 1,895,706 shares of the financial services provider's stock worth $74,312,000 after acquiring an additional 86,399 shares during the last quarter. Novare Capital Management LLC raised its position in shares of Fifth Third Bancorp by 5.1% during the first quarter. Novare Capital Management LLC now owns 8,667 shares of the financial services provider's stock worth $340,000 after acquiring an additional 417 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Fifth Third Bancorp by 13.9% during the first quarter. Concurrent Investment Advisors LLC now owns 7,630 shares of the financial services provider's stock worth $299,000 after acquiring an additional 933 shares during the last quarter. Finally, World Investment Advisors raised its position in shares of Fifth Third Bancorp by 28.2% during the first quarter. World Investment Advisors now owns 15,294 shares of the financial services provider's stock worth $600,000 after acquiring an additional 3,364 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of recent research reports. Citigroup dropped their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Barclays decreased their price objective on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. DA Davidson raised Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and lifted their price objective for the stock from $42.00 to $47.00 in a research note on Monday, June 9th. Finally, Truist Financial decreased their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.53.

Fifth Third Bancorp Trading Up 1.2%

NASDAQ:FITB traded up $0.53 on Thursday, reaching $43.96. The company's stock had a trading volume of 1,201,001 shares, compared to its average volume of 4,557,338. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $29.34 billion, a PE ratio of 13.95, a PEG ratio of 1.50 and a beta of 0.91. The business's 50-day moving average price is $39.32 and its two-hundred day moving average price is $40.08.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 13.64% and a net margin of 17.65%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.37 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.37%. Fifth Third Bancorp's dividend payout ratio (DPR) is 46.98%.

Fifth Third Bancorp announced that its Board of Directors has approved a share repurchase plan on Monday, June 16th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

About Fifth Third Bancorp

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.