M&G Plc Purchases Shares of 34,847 Fifth Third Bancorp (NASDAQ:FITB)

M&G Plc purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,847 shares of the financial services provider’s stock, valued at approximately $1,254,000.

Several other institutional investors also recently bought and sold shares of FITB. SVB Wealth LLC raised its holdings in shares of Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 283 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Fifth Third Bancorp by 3.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 300 shares during the last quarter. Lcnb Corp boosted its position in shares of Fifth Third Bancorp by 1.7% during the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 319 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock valued at $1,558,000 after acquiring an additional 328 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Fifth Third Bancorp by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after acquiring an additional 365 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 1.3 %

NASDAQ FITB traded up $0.50 on Tuesday, reaching $39.42. The company had a trading volume of 2,725,937 shares, compared to its average volume of 4,849,583. The firm has a market capitalization of $26.97 billion, a PE ratio of 12.36, a P/E/G ratio of 1.91 and a beta of 1.24. The firm has a 50-day moving average of $38.07 and a 200-day moving average of $36.63. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $42.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.35 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.55%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Insiders Place Their Bets

In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the sale, the executive vice president now directly owns 125,087 shares in the company, valued at $5,224,883.99. The disclosure for this sale can be found here. Insiders sold a total of 34,500 shares of company stock valued at $1,429,920 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FITB shares. Argus increased their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI lowered their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.56.

Fifth Third Bancorp Profile

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.