Jamison Private Wealth Management Inc. acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,593 shares of the financial services provider’s stock, valued at approximately $539,000.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock worth $3,929,647,000 after acquiring an additional 637,207 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Fifth Third Bancorp by 41.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after purchasing an additional 10,444,799 shares during the last quarter. Capital World Investors raised its position in Fifth Third Bancorp by 5.6% in the 4th quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider’s stock valued at $1,523,650,000 after purchasing an additional 1,719,361 shares during the last quarter. State Street Corp boosted its stake in Fifth Third Bancorp by 0.3% in the fourth quarter. State Street Corp now owns 31,437,600 shares of the financial services provider’s stock worth $1,484,021,000 after purchasing an additional 101,245 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider’s stock worth $1,120,586,000 after purchasing an additional 530,489 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.
Insider Buying and Selling at Fifth Third Bancorp
In related news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction on Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Research Report on Fifth Third Bancorp
Fifth Third Bancorp Price Performance
Shares of FITB stock opened at $57.15 on Friday. The stock has a 50-day moving average price of $51.42 and a 200 day moving average price of $49.89. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market cap of $51.80 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a 12 month low of $40.04 and a 12 month high of $58.15.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same period in the previous year, the business posted $0.71 EPS. Research analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.
Fifth Third Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is currently 53.69%.
Fifth Third Bancorp 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.
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