Tokio Marine Asset Management Co. Ltd. Purchases 1,046 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Posted by Defense World Staff on Apr 8th, 2023

Fifth Third Bancorp logo Tokio Marine Asset Management Co. Ltd. increased its position in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 9.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,956 shares of the financial services provider’s stock after buying an additional 1,046 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. CI Investments Inc. grew its holdings in shares of Fifth Third Bancorp by 1,002.4% in the third quarter. CI Investments Inc. now owns 915 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 832 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Fifth Third Bancorp by 324.1% in the third quarter. Hexagon Capital Partners LLC now owns 933 shares of the financial services provider’s stock worth $30,000 after buying an additional 713 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Fifth Third Bancorp by 226.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 939 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 651 shares during the period. Guardian Wealth Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $30,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Fifth Third Bancorp by 3,012.9% during the third quarter. Capital Advisors Ltd. LLC now owns 965 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 934 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Howard Hammond sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $37.32, for a total transaction of $37,320.00. Following the sale, the executive vice president now owns 49,202 shares in the company, valued at approximately $1,836,218.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Howard Hammond sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $37.32, for a total transaction of $37,320.00. Following the sale, the executive vice president now owns 49,202 shares in the company, valued at approximately $1,836,218.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary R. Heminger purchased 33,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $26.82 per share, for a total transaction of $885,060.00. Following the purchase, the director now owns 127,043 shares in the company, valued at approximately $3,407,293.26. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FITB shares. Keefe, Bruyette & Woods upgraded Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $38.00 to $34.00 in a report on Wednesday. Morgan Stanley cut their target price on Fifth Third Bancorp from $37.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company cut their target price on Fifth Third Bancorp from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, April 3rd. Barclays cut their target price on Fifth Third Bancorp from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Fifth Third Bancorp from $44.00 to $37.00 in a research note on Friday, January 6th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.63.

Fifth Third Bancorp Price Performance

FITB opened at $26.08 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $32.14 and a 200 day moving average of $33.40. The stock has a market cap of $17.76 billion, a P/E ratio of 7.76, a PEG ratio of 0.84 and a beta of 1.17. Fifth Third Bancorp has a 52-week low of $22.11 and a 52-week high of $41.87.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. Fifth Third Bancorp had a return on equity of 15.48% and a net margin of 26.15%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the company posted $0.90 EPS. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.66 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.32 annualized dividend and a yield of 5.06%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 39.29%.

Fifth Third Bancorp Profile

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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.