Wesbanco Bank Inc. Raises Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Wesbanco Bank Inc. raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 40.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,140 shares of the financial services provider's stock after acquiring an additional 35,528 shares during the period. Wesbanco Bank Inc.'s holdings in Fifth Third Bancorp were worth $4,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Boston Partners raised its holdings in shares of Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after acquiring an additional 823,803 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Fifth Third Bancorp by 27.3% during the 4th quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider's stock worth $86,535,000 after acquiring an additional 438,446 shares in the last quarter. AMJ Financial Wealth Management raised its holdings in shares of Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock worth $9,843,000 after acquiring an additional 9,401 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $357,000. Finally, Fred Alger Management LLC increased its position in shares of Fifth Third Bancorp by 29.5% during the 4th quarter. Fred Alger Management LLC now owns 65,867 shares of the financial services provider's stock valued at $2,809,000 after purchasing an additional 15,023 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FITB has been the topic of several analyst reports. Stephens reissued an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. DA Davidson cut their target price on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. TD Cowen initiated coverage on Fifth Third Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $52.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Fifth Third Bancorp Price Performance

FITB opened at $39.41 on Monday. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The business's fifty day simple moving average is $36.65 and its 200-day simple moving average is $40.90. The company has a market capitalization of $26.31 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings data 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. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $0.70 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is currently 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.

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