Raiffeisen Bank International AG Has $634,000 Position in Fifth Third Bancorp $FITB

Raiffeisen Bank International AG boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1,589.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,167 shares of the financial services provider’s stock after purchasing an additional 10,506 shares during the quarter. Raiffeisen Bank International AG’s holdings in Fifth Third Bancorp were worth $634,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FITB. Clearstead Trust LLC bought a new position in shares of Fifth Third Bancorp during the 2nd quarter worth about $29,000. Center for Financial Planning Inc. acquired a new position in Fifth Third Bancorp during the 1st quarter worth approximately $25,000. SouthState Bank Corp boosted its holdings in Fifth Third Bancorp by 74.7% in the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Monetary Solutions Ltd bought a new position in Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Finally, Leonteq Securities AG acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent research reports. Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Morgan Stanley raised their target price on Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Zacks Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Argus raised Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Citigroup raised their price objective on Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.54.

Fifth Third Bancorp Trading Down 0.1%

Shares of FITB stock opened at $54.93 on Friday. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.09 and a beta of 0.89. The company’s fifty day simple moving average is $56.63 and its two-hundred day simple moving average is $52.03. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. 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 announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 45.8% on a year-over-year basis. As a group, analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

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

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.