MassMutual Private Wealth & Trust FSB Purchases 1,181 Shares of Fifth Third Bancorp (NASDAQ:FITB)

MassMutual Private Wealth & Trust FSB raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,292 shares of the financial services provider’s stock after acquiring an additional 1,181 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Fifth Third Bancorp were worth $3,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FITB. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Quarry LP purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $33,000. Finally, REAP Financial Group LLC increased its stake in Fifth Third Bancorp by 161.8% in the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider’s stock worth $33,000 after buying an additional 487 shares during the period. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FITB shares. Cowen started coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They set a “buy” rating on the stock. TD Cowen started coverage on shares of Fifth Third Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $52.00 target price on the stock. Barclays dropped their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Truist Financial dropped their target price on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, DA Davidson dropped their target price on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $46.78.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $38.32 on Friday. The firm has a market capitalization of $25.58 billion, a P/E ratio of 12.20, a PEG ratio of 1.42 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $36.77 and a 200 day moving average price of $41.33. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period last year, the firm posted $0.70 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s payout ratio is currently 46.98%.

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.