Trivium Point Advisory LLC Makes New Investment in Fifth Third Bancorp $FITB

Trivium Point Advisory LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITBFree Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 19,378 shares of the financial services provider’s stock, valued at approximately $1,092,000.

A number of other large investors also recently modified their holdings of FITB. Cullen Frost Bankers Inc. grew its holdings in Fifth Third Bancorp by 4.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after buying an additional 187 shares in the last quarter. Equitable Holdings Inc. lifted its stake in Fifth Third Bancorp by 4.1% during the 4th quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 195 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its holdings in Fifth Third Bancorp by 5.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,869 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 201 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 206 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its stake in shares of Fifth Third Bancorp by 19.2% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,319 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.0%

Shares of Fifth Third Bancorp stock opened at $58.05 on Monday. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $59.50. The stock’s 50-day simple moving average is $56.27 and its 200 day simple moving average is $51.78. The stock has a market capitalization of $52.65 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.Fifth Third Bancorp’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is presently 54.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FITB. Keefe, Bruyette & Woods raised their price target on shares of 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 upped their price objective on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Truist Financial increased their price objective on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Zacks Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, UBS Group boosted their target price on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. One investment 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 MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average target price of $60.54.

View Our Latest Research Report on Fifth Third Bancorp

About Fifth Third Bancorp

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.