Fifth Third Bancorp $FITB Holdings Raised by Capital World Investors

Capital World Investors boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,549,669 shares of the financial services provider’s stock after buying an additional 1,719,361 shares during the quarter. Capital World Investors owned approximately 4.92% of Fifth Third Bancorp worth $1,523,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its position in Fifth Third Bancorp by 12.8% in the 4th quarter. Capital Research Global Investors now owns 6,450,801 shares of the financial services provider’s stock worth $301,962,000 after buying an additional 731,799 shares in the last quarter. Capital International Sarl raised its holdings in shares of Fifth Third Bancorp by 9.0% during the 4th quarter. Capital International Sarl now owns 30,491 shares of the financial services provider’s stock valued at $1,427,000 after purchasing an additional 2,511 shares in the last quarter. DB&C Advisors LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $490,000. Ramirez Asset Management Inc. raised its holdings in shares of Fifth Third Bancorp by 43.6% during the 4th quarter. Ramirez Asset Management Inc. now owns 8,081 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 2,453 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Fifth Third Bancorp by 64.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 50,070 shares of the financial services provider’s stock valued at $2,344,000 after purchasing an additional 19,588 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $52.01 on Friday. The company has a market capitalization of $47.14 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.06 and a beta of 0.92. Fifth Third Bancorp has a one year low of $37.86 and a one year 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. The company’s fifty day moving average price is $49.08 and its 200 day moving average price is $48.47.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.63 by $0.20. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.71 EPS. As a group, analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Insider Buying and Selling at Fifth Third Bancorp

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

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price target on shares of Fifth Third Bancorp in a report on Monday, May 4th. Barclays raised their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and issued a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a report on Monday, March 30th. Finally, Wolfe Research dropped their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.19.

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.