Deutsche Bank AG Purchases 438,446 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Deutsche Bank AG lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 27.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,046,701 shares of the financial services provider’s stock after purchasing an additional 438,446 shares during the period. Deutsche Bank AG owned about 0.31% of Fifth Third Bancorp worth $86,535,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp in the fourth quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $28,000. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the 4th quarter worth $29,000. Quarry LP bought a new position in Fifth Third Bancorp in the 4th quarter worth $29,000. Finally, Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $33,000. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. The trade was a 6.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $37.43 on Monday. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $36.96 and a 200-day moving average price of $41.87. The firm has a market capitalization of $24.98 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) 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 the consensus estimate 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 quarter last year, the firm earned $0.70 earnings per share. As a group, equities research analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FITB. Wells Fargo & Company reduced their target price on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research report on Monday, April 7th. Truist Financial dropped their target price on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.24.

Fifth Third Bancorp Company 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.