Tidal Investments LLC Has $1.18 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Tidal Investments LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 11.6% in the fourth quarter, Holdings Channel reports. The fund owned 27,854 shares of the financial services provider’s stock after acquiring an additional 2,902 shares during the period. Tidal Investments LLC’s holdings in Fifth Third Bancorp were worth $1,178,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Atomi Financial Group Inc. grew its position in shares of Fifth Third Bancorp by 8.6% in the 4th quarter. Atomi Financial Group Inc. now owns 10,571 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 835 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Fifth Third Bancorp by 9.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 224,138 shares of the financial services provider’s stock valued at $9,477,000 after buying an additional 19,072 shares during the period. Southland Equity Partners LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $205,000. CX Institutional raised its holdings in shares of Fifth Third Bancorp by 4.3% during the fourth quarter. CX Institutional now owns 7,301 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 303 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Fifth Third Bancorp by 16.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 261 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TD Cowen initiated coverage on Fifth Third Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $52.00 target price for the company. Baird R W upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Wells Fargo & Company dropped their target price on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Citigroup reduced their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.78.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $37.20 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $36.91 and its two-hundred day moving average price is $41.53. The company has a market cap of $24.83 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07.

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

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

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.