Woodline Partners LP Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

Woodline Partners LP purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,269 shares of the financial services provider's stock, valued at approximately $1,703,000.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth $28,000. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. Quarry LP bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $33,000. Finally, Y.D. More Investments Ltd grew its position in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after acquiring an additional 449 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.8%

Shares of FITB stock traded down $0.32 during mid-day trading on Wednesday, hitting $37.82. The company's stock had a trading volume of 3,875,250 shares, compared to its average volume of 4,500,612. 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 business has a 50-day moving average price of $36.84 and a 200 day moving average price of $41.41. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The stock has a market cap of $25.24 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.42 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period in the previous year, the business posted $0.70 earnings per share. Research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's payout ratio is 46.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FITB shares. Morgan Stanley dropped their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. reduced their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods lowered their target price on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Stephens reiterated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, Cowen began coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They set a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of "Moderate Buy" and a consensus price target of $46.78.

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.