1,230 Shares in Fifth Third Bancorp $FITB Bought by Country Trust Bank

Country Trust Bank bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,230 shares of the financial services provider’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in Fifth Third Bancorp in the 1st quarter valued at approximately $27,000. Activest Wealth Management grew its holdings in Fifth Third Bancorp by 1,043.3% during the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 626 shares during the last quarter. GoalVest Advisory LLC increased its position in Fifth Third Bancorp by 246.3% in the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 532 shares during the period. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the 2nd quarter valued at approximately $32,000. Finally, BankPlus Trust Department raised its stake in shares of Fifth Third Bancorp by 53.0% during the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, Director Evan Bayh acquired 3,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 20th. The stock was purchased at an average price of $41.22 per share, with a total value of $123,660.00. Following the completion of the purchase, the director owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 0.1%

Shares of NASDAQ FITB opened at $43.33 on Thursday. The firm has a market cap of $28.64 billion, a PE ratio of 12.93, a P/E/G ratio of 1.14 and a beta of 0.98. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $48.88. The company’s fifty day simple moving average is $43.01 and its 200 day simple moving average is $42.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $0.93 earnings per share 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 the consensus estimate of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.40 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.7%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FITB shares. Wall Street Zen raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Stephens set a $52.00 price objective on shares of Fifth Third Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Truist Financial lifted their target price on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Cowen restated a “buy” rating on shares of Fifth Third Bancorp in a report on Monday, October 20th. Finally, Janney Montgomery Scott increased their price target on Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. One investment 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 stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average target price of $50.35.

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.