Pathstone Family Office LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,275 shares of the financial services provider’s stock after buying an additional 1,204 shares during the period. Pathstone Family Office LLC’s holdings in Fifth Third Bancorp were worth $937,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Clarius Group LLC increased its position in Fifth Third Bancorp by 3.9% in the 3rd quarter. Clarius Group LLC now owns 10,134 shares of the financial services provider’s stock worth $324,000 after buying an additional 376 shares during the period. Teacher Retirement System of Texas increased its position in Fifth Third Bancorp by 56.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 247,196 shares of the financial services provider’s stock worth $8,306,000 after buying an additional 89,511 shares during the period. HB Wealth Management LLC increased its position in Fifth Third Bancorp by 10.3% in the 3rd quarter. HB Wealth Management LLC now owns 10,558 shares of the financial services provider’s stock worth $337,000 after buying an additional 989 shares during the period. Texas Permanent School Fund increased its position in Fifth Third Bancorp by 7.1% in the 3rd quarter. Texas Permanent School Fund now owns 97,091 shares of the financial services provider’s stock worth $3,103,000 after buying an additional 6,470 shares during the period. Finally, Amundi increased its position in Fifth Third Bancorp by 8.7% in the 2nd quarter. Amundi now owns 1,475,006 shares of the financial services provider’s stock worth $47,509,000 after buying an additional 118,617 shares during the period. 80.17% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on FITB shares. DA Davidson started coverage on Fifth Third Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $36.00 price objective on the stock. Barclays lowered their price objective on Fifth Third Bancorp from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Fifth Third Bancorp from $44.00 to $37.00 in a research report on Friday, January 6th. Piper Sandler lowered their price objective on Fifth Third Bancorp from $43.00 to $40.00 in a research report on Friday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $37.00 price target on shares of Fifth Third Bancorp in a research note on Monday, December 5th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.90.
Fifth Third Bancorp Price Performance
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a return on equity of 15.48% and a net margin of 26.15%. During the same quarter in the previous year, the company posted $0.90 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 3.76 earnings per share for the current fiscal year.
Fifth Third Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, December 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.35%. Fifth Third Bancorp’s payout ratio is currently 39.29%.
Insider Transactions at Fifth Third Bancorp
In other news, EVP Howard Hammond sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $37.32, for a total transaction of $37,320.00. Following the completion of the sale, the executive vice president now owns 49,202 shares in the company, valued at $1,836,218.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.
Fifth Third Bancorp Profile
Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth and Asset Management.
Read More
- Get a free copy of the StockNews.com research report on Fifth Third Bancorp (FITB)
- Here’s 2 Beaten Down Stocks to Help Your Portfolio Recovery
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB – Get Rating).
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
