26,714 Shares in Fifth Third Bancorp $FITB Acquired by Vise Technologies Inc.

Vise Technologies Inc. acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,714 shares of the financial services provider’s stock, valued at approximately $1,506,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in shares of Fifth Third Bancorp by 69.7% in the first quarter. D.A. Davidson & CO. now owns 50,783 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 20,862 shares in the last quarter. Keybank National Association OH lifted its stake in Fifth Third Bancorp by 33.2% in the 1st quarter. Keybank National Association OH now owns 85,781 shares of the financial services provider’s stock valued at $3,985,000 after buying an additional 21,365 shares in the last quarter. Geode Capital Management LLC grew its holdings in Fifth Third Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider’s stock valued at $848,672,000 after buying an additional 96,656 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in Fifth Third Bancorp during the fourth quarter worth $1,514,000. Finally, Fruth Investment Management raised its holdings in shares of Fifth Third Bancorp by 335.2% in the first quarter. Fruth Investment Management now owns 27,210 shares of the financial services provider’s stock worth $1,264,000 after acquiring an additional 20,957 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 0.5%

Shares of Fifth Third Bancorp stock opened at $54.76 on Friday. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $59.50. The business’s fifty day moving average is $56.54 and its two-hundred day moving average is $51.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market cap of $49.66 billion, a PE ratio of 18.38, a P/E/G ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 54.61%.

Analysts Set New Price Targets

Several analysts have recently issued reports on FITB shares. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $58.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Morgan Stanley lifted their price objective 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. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Citigroup upped their target price on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada raised their price target on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average price target of $60.54.

About Fifth Third Bancorp

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.