Callan Family Office LLC acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 103,732 shares of the financial services provider’s stock, valued at approximately $5,847,000.
A number of other large investors have also modified their holdings of FITB. Cullen Frost Bankers Inc. boosted its stake in shares of Fifth Third Bancorp by 4.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 187 shares in the last quarter. Equitable Holdings Inc. increased its stake in shares of Fifth Third Bancorp by 4.1% in the 4th quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 195 shares in the last quarter. Basecamp Wealth Advisors LLC raised its holdings in Fifth Third Bancorp by 5.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,869 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 201 shares during the period. Koshinski Asset Management Inc. boosted its position in Fifth Third Bancorp by 3.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 206 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its position in Fifth Third Bancorp by 19.2% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,319 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
Fifth Third Bancorp Stock Performance
Shares of NASDAQ:FITB opened at $54.76 on Friday. 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 has a 1 year low of $40.04 and a 1 year high of $59.50. The firm has a market capitalization of $49.66 billion, a PE ratio of 18.38, a P/E/G ratio of 1.09 and a beta of 0.91. The business’s 50 day moving average price is $56.54 and its 200-day moving average price is $51.97.
Fifth Third Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. Fifth Third Bancorp’s dividend payout ratio is presently 54.61%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on FITB shares. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Citigroup lifted their price target on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Robert W. Baird increased their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.54.
Read Our Latest Stock Report on FITB
About Fifth Third Bancorp
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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