Fifth Third Bancorp $FITB Holdings Lifted by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,804 shares of the financial services provider’s stock after buying an additional 474 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Fifth Third Bancorp were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in shares of Fifth Third Bancorp by 5.8% during the first quarter. Allianz Asset Management GmbH now owns 292,102 shares of the financial services provider’s stock valued at $11,450,000 after buying an additional 16,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Fifth Third Bancorp by 1.6% during the first quarter. Principal Financial Group Inc. now owns 818,564 shares of the financial services provider’s stock valued at $32,088,000 after buying an additional 12,905 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Fifth Third Bancorp by 49.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 47,392 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 15,692 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Fifth Third Bancorp by 1,448.6% during the first quarter. Teacher Retirement System of Texas now owns 98,088 shares of the financial services provider’s stock valued at $3,845,000 after purchasing an additional 91,754 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Fifth Third Bancorp by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 617,867 shares of the financial services provider’s stock worth $23,979,000 after purchasing an additional 68,578 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, Director Evan Bayh acquired 3,000 shares of the stock in a transaction dated Monday, October 20th. The shares were bought at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the purchase, the director owned 84,942 shares in the company, valued at approximately $3,501,309.24. This trade represents a 3.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group boosted their price objective on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Cowen reissued a “buy” rating on shares of Fifth Third Bancorp in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 7th. Argus boosted their price objective on Fifth Third Bancorp from $46.00 to $49.00 in a research report on Tuesday, October 7th. Finally, Stephens set a $52.00 price objective on Fifth Third Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $50.45.

Fifth Third Bancorp Trading Up 1.3%

Fifth Third Bancorp stock opened at $42.63 on Friday. The business has a 50 day moving average price of $44.25 and a two-hundred day moving average price of $41.04. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $28.22 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.40 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.8%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio is currently 47.76%.

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.