Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 49.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,392 shares of the financial services provider's stock after acquiring an additional 15,692 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Fifth Third Bancorp were worth $1,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FITB. Quarry LP purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. HWG Holdings LP purchased a new position in Fifth Third Bancorp in the 1st quarter worth approximately $27,000. REAP Financial Group LLC increased its stake in Fifth Third Bancorp by 161.8% in the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after purchasing an additional 487 shares during the period. Grove Bank & Trust increased its stake in Fifth Third Bancorp by 60.7% in the 1st quarter. Grove Bank & Trust now owns 887 shares of the financial services provider's stock worth $35,000 after purchasing an additional 335 shares during the period. Finally, Citizens National Bank Trust Department purchased a new position in Fifth Third Bancorp in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Barclays decreased their target price on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Tuesday, June 10th. Jefferies Financial Group assumed coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $47.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $47.53.

Fifth Third Bancorp Stock Down 0.7%

FITB traded down $0.29 on Friday, hitting $43.76. The company had a trading volume of 4,001,802 shares, compared to its average volume of 4,578,753. 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 stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.51 and a beta of 0.91. The stock has a fifty day moving average price of $39.61 and a 200-day moving average price of $40.09. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 13.64% and a net margin of 17.65%. During the same quarter last year, the company earned $0.70 earnings per share. Analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp declared that its Board of Directors has initiated a share buyback plan on Monday, June 16th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, June 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is 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.