Strs Ohio bought a new stake in Fifth Third Bancorp (NASDAQ:FITB – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 348,852 shares of the financial services provider’s stock, valued at approximately $9,293,000. Strs Ohio owned approximately 0.05% of Fifth Third Bancorp as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Heritage Wealth Management LLC lifted its stake in Fifth Third Bancorp by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 1,048 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 524 shares in the last quarter. Boyd Watterson Asset Management LLC OH bought a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $36,000. Grey Fox Wealth Advisors LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $38,000. ICA Group Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $38,000. Finally, Covestor Ltd raised its stake in shares of Fifth Third Bancorp by 43.9% during the 1st quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on FITB. Morgan Stanley dropped their price objective on Fifth Third Bancorp from $29.00 to $28.00 in a research note on Friday, July 7th. Barclays dropped their price objective on Fifth Third Bancorp from $36.00 to $34.00 in a research note on Tuesday, June 27th. Citigroup dropped their price objective on Fifth Third Bancorp from $40.00 to $30.00 in a research note on Monday, April 24th. JPMorgan Chase & Co. dropped their price objective on Fifth Third Bancorp from $37.50 to $32.50 and set a “neutral” rating on the stock in a research note on Monday, April 10th. Finally, The Goldman Sachs Group dropped their price objective on Fifth Third Bancorp from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, March 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $33.27.
Insider Transactions at Fifth Third Bancorp
Fifth Third Bancorp Stock Performance
Shares of NASDAQ FITB opened at $26.98 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.79 and a quick ratio of 0.78. The stock’s fifty day moving average price is $25.83 and its two-hundred day moving average price is $29.42. Fifth Third Bancorp has a one year low of $22.11 and a one year high of $38.06. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 1.01 and a beta of 1.18.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last issued its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Fifth Third Bancorp had a net margin of 24.39% and a return on equity of 16.28%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company earned $0.69 earnings per share. On average, equities analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current year.
Fifth Third Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, June 29th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 38.15%.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. 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.
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