Keybank National Association OH Increases Stock Holdings in Fifth Third Bancorp $FITB

Keybank National Association OH raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 33.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,781 shares of the financial services provider’s stock after purchasing an additional 21,365 shares during the quarter. Keybank National Association OH’s holdings in Fifth Third Bancorp were worth $3,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Fifth Third Bancorp by 4.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after buying an additional 187 shares during the last quarter. Equitable Holdings Inc. increased its holdings in Fifth Third Bancorp by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock valued at $232,000 after buying an additional 195 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in Fifth Third Bancorp by 3.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after buying an additional 206 shares during the last quarter. CreativeOne Wealth LLC raised its position in Fifth Third Bancorp by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 216 shares during the period. Finally, Foster & Motley Inc. raised its position in Fifth Third Bancorp by 1.4% in the first quarter. Foster & Motley Inc. now owns 16,298 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 226 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Piper Sandler reiterated an “overweight” rating and set a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Jefferies Financial Group boosted their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Morgan Stanley upped their price target on Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Wolfe Research decreased their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.94.

Insider Activity

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. This represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $57.15 on Friday. The stock has a market cap of $51.80 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $58.15. The firm has a fifty day moving average price of $51.55 and a 200-day moving average price of $49.95. 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 results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter in the prior year, the business posted $0.71 EPS. Equities analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Fifth Third Bancorp Company 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.