Zurcher Kantonalbank Zurich Cantonalbank Has $9.95 Million Position in Fifth Third Bancorp $FITB

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 32.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,603 shares of the financial services provider’s stock after buying an additional 52,039 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fifth Third Bancorp were worth $9,952,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FITB. Empowered Funds LLC increased its holdings in Fifth Third Bancorp by 7.1% in the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 916 shares during the last quarter. Woodline Partners LP lifted its holdings in Fifth Third Bancorp by 40.5% during the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock worth $2,218,000 after acquiring an additional 16,323 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Fifth Third Bancorp by 45.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock worth $100,000 after buying an additional 759 shares during the period. Brown Advisory Inc. raised its holdings in Fifth Third Bancorp by 5.0% during the 2nd quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock worth $422,000 after buying an additional 484 shares during the period. Finally, Gamco Investors INC. ET AL bought a new position in Fifth Third Bancorp during the 2nd quarter worth about $968,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $50.89 on Friday. The firm has a market capitalization of $46.08 billion, a PE ratio of 17.08, a PEG ratio of 1.05 and a beta of 0.95. The company’s 50-day moving average is $48.40 and its 200-day moving average is $47.01. Fifth Third Bancorp has a fifty-two week low of $34.80 and a fifty-two week high of $55.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.87. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post 4.03 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is presently 53.69%.

Insider Activity

In other news, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group reissued a “buy” rating and set a $59.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Janney Montgomery Scott boosted their price target on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Argus boosted their price target on Fifth Third Bancorp from $49.00 to $58.00 in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fifth Third Bancorp from $50.50 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.11.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.