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

U.S. Capital Wealth Advisors LLC grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 49.5% in the 1st quarter, according to its most recent disclosure with the SEC. 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 quarter.

A number of other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $371,836,000. Jupiter Asset Management Ltd. purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $53,508,000. GAMMA Investing LLC increased its position in Fifth Third Bancorp by 4,271.4% during the 1st quarter. GAMMA Investing LLC now owns 1,203,362 shares of the financial services provider's stock valued at $47,172,000 after purchasing an additional 1,175,834 shares during the period. First Trust Advisors LP increased its position in Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after purchasing an additional 1,027,044 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $38,971,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded down $0.02 on Wednesday, hitting $43.43. 6,101,636 shares of the company's stock traded hands, compared to its average volume of 4,586,099. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $28.99 billion, a PE ratio of 13.79, a P/E/G ratio of 1.49 and a beta of 0.91. The firm's 50-day moving average price is $39.17 and its two-hundred day moving average price is $40.06.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced 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 company had revenue of $2.14 billion for 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 period last year, the firm earned $0.70 EPS. As a group, analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

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

Fifth Third Bancorp Dividend Announcement

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 paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Monday, June 30th. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FITB shares. Cowen started coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Truist Financial lowered their price target 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. Jefferies Financial Group started coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $47.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Finally, Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $47.53.

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.