Commonwealth Equity Services LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,723 shares of the financial services provider’s stock after buying an additional 4,265 shares during the period. Commonwealth Equity Services LLC’s holdings in Fifth Third Bancorp were worth $7,434,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FITB. Riverview Trust Co bought a new stake in Fifth Third Bancorp during the first quarter worth approximately $28,000. Johnson Financial Group Inc. bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $31,000. Wagner Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 82.5% during the fourth quarter. Wagner Wealth Management LLC now owns 794 shares of the financial services provider’s stock worth $35,000 after buying an additional 359 shares in the last quarter. Evoke Wealth LLC boosted its holdings in Fifth Third Bancorp by 146.7% during the fourth quarter. Evoke Wealth LLC now owns 814 shares of the financial services provider’s stock worth $36,000 after buying an additional 484 shares in the last quarter. Finally, Covestor Ltd acquired a new position in Fifth Third Bancorp in the 4th quarter worth approximately $37,000. 81.00% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on FITB. Wolfe Research decreased their price objective on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating for the company in a research note on Thursday, May 26th. Piper Sandler decreased their price objective on shares of Fifth Third Bancorp to $40.00 in a research note on Friday, July 22nd. Wells Fargo & Company decreased their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Morgan Stanley decreased their price objective on shares of Fifth Third Bancorp from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 12th. Finally, Citigroup decreased their price objective on shares of Fifth Third Bancorp from $44.00 to $37.00 in a research note on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.56.
Insider Buying and Selling
In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $36.93, for a total value of $92,325.00. Following the transaction, the executive vice president now owns 45,844 shares in the company, valued at approximately $1,693,018.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.
Fifth Third Bancorp Stock Up 0.0 %
Fifth Third Bancorp stock opened at $34.13 on Tuesday. The company has a market capitalization of $23.33 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.16 and a beta of 1.27. The firm’s fifty day simple moving average is $35.22 and its 200-day simple moving average is $40.43. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.65. Fifth Third Bancorp has a 1-year low of $31.80 and a 1-year high of $50.64.
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.11). Fifth Third Bancorp had a net margin of 29.09% and a return on equity of 12.99%. During the same quarter in the prior year, the company posted $0.94 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.57 earnings per share for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.20 annualized dividend and a yield of 3.52%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 36.25%.
Fifth Third Bancorp Company Profile
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Fifth Third Bancorp operates as a diversified financial services company in the United States. The company’s Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
See Also
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