International Private Wealth Advisors LLC Boosts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

International Private Wealth Advisors LLC raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,405 shares of the financial services provider’s stock after purchasing an additional 375 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $329,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tounjian Advisory Partners LLC purchased a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $1,153,000. Farther Finance Advisors LLC increased its holdings in Fifth Third Bancorp by 90.2% during the first quarter. Farther Finance Advisors LLC now owns 7,350 shares of the financial services provider’s stock valued at $286,000 after buying an additional 3,485 shares during the last quarter. Wesbanco Bank Inc. raised its position in Fifth Third Bancorp by 40.6% in the first quarter. Wesbanco Bank Inc. now owns 123,140 shares of the financial services provider’s stock worth $4,827,000 after acquiring an additional 35,528 shares during the period. First Citizens Bank & Trust Co. raised its position in Fifth Third Bancorp by 1.0% in the first quarter. First Citizens Bank & Trust Co. now owns 69,894 shares of the financial services provider’s stock worth $2,740,000 after acquiring an additional 695 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in shares of Fifth Third Bancorp by 5.0% during the 1st quarter. Park Avenue Securities LLC now owns 69,578 shares of the financial services provider’s stock worth $2,727,000 after acquiring an additional 3,331 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $39.41 on Monday. The company’s 50-day simple moving average is $36.65 and its two-hundred day simple moving average is $40.90. The company has a market capitalization of $26.31 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same period in the prior year, the business earned $0.70 EPS. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s payout ratio is 46.98%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FITB. Keefe, Bruyette & Woods reduced their price objective on Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Morgan Stanley lowered their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Citigroup dropped their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $47.29.

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.