Hudson Bay Capital Management LP Invests $9.52 Million in Fifth Third Bancorp (NASDAQ:FITB)

Hudson Bay Capital Management LP acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 225,039 shares of the financial services provider's stock, valued at approximately $9,515,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the fourth quarter valued at about $28,000. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the fourth quarter worth about $29,000. Quarry LP purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $33,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.12 during trading hours on Thursday, hitting $39.49. The company had a trading volume of 3,705,967 shares, compared to its average volume of 4,472,428. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26.36 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The business has a fifty day simple moving average of $36.91 and a 200-day simple moving average of $41.81.

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 (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $2.17 billion. During the same period last year, the firm earned $0.70 EPS. Equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

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 3.75%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is presently 46.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays decreased their target price on shares of 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 reduced 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. TD Cowen started coverage on Fifth Third Bancorp in a research note on Thursday. They set a "buy" rating and a $52.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Stephens restated an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $46.56.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. This represents a 14.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This trade represents a 6.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

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.