Visionary Horizons LLC Buys Shares of 14,665 Fifth Third Bancorp (NASDAQ:FITB)

Visionary Horizons LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,665 shares of the financial services provider's stock, valued at approximately $575,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in Fifth Third Bancorp by 176.1% in the 1st quarter. SG Americas Securities LLC now owns 37,311 shares of the financial services provider's stock worth $1,463,000 after buying an additional 23,796 shares in the last quarter. Ibex Wealth Advisors raised its position in Fifth Third Bancorp by 6.1% during the 1st quarter. Ibex Wealth Advisors now owns 11,221 shares of the financial services provider's stock valued at $440,000 after purchasing an additional 645 shares during the last quarter. Sonora Investment Management Group LLC increased its position in shares of Fifth Third Bancorp by 0.9% during the first quarter. Sonora Investment Management Group LLC now owns 60,481 shares of the financial services provider's stock valued at $2,371,000 after buying an additional 537 shares during the period. Accurate Wealth Management LLC raised its holdings in Fifth Third Bancorp by 17.9% in the first quarter. Accurate Wealth Management LLC now owns 12,788 shares of the financial services provider's stock worth $501,000 after purchasing an additional 1,941 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Fifth Third Bancorp by 11.5% during the first quarter. GAMMA Investing LLC now owns 30,698 shares of the financial services provider's stock valued at $1,203,000 after purchasing an additional 3,170 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FITB shares. Cowen assumed coverage on Fifth Third Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Citigroup cut their target price on shares of 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. DA Davidson upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $42.00 to $47.00 in a research report on Monday. Stephens reissued an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Finally, TD Cowen began coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp has an average rating of "Moderate Buy" and a consensus target price of $47.53.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB traded down $0.22 on Thursday, reaching $38.92. The company's stock had a trading volume of 1,343,937 shares, compared to its average volume of 4,491,291. The company has a 50-day simple moving average of $36.85 and a 200 day simple moving average of $40.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $25.98 billion, a P/E ratio of 12.39, a PEG ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07.

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 the consensus estimate of $0.70 by $0.03. The firm 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 14.10% and a net margin of 17.43%. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio 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.