Mufg Securities Americas Inc. Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Mufg Securities Americas Inc. purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,109 shares of the financial services provider's stock, valued at approximately $470,000.

Several other hedge funds also recently made changes to their positions in the business. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $28,000. Quarry LP acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Finally, Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp during the 4th quarter worth $33,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded down $0.13 during midday trading on Monday, hitting $39.51. 3,203,117 shares of the stock traded hands, compared to its average volume of 4,478,315. The firm has a 50-day moving average of $36.94 and a two-hundred day moving average of $41.72. The firm has a market capitalization of $26.37 billion, a P/E ratio of 12.58, a PEG ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

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

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.75%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. The trade was a 14.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This trade represents a 6.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Baird R W upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. TD Cowen assumed coverage on Fifth Third Bancorp in a research report on Thursday. They issued a "buy" rating and a $52.00 target price for the company. Piper Sandler restated an "overweight" rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Fifth Third Bancorp has an average rating of "Moderate Buy" and a consensus price target of $46.56.

About Fifth Third Bancorp

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.