Burnham & Co LLC Purchases Shares of 10,000 Fifth Third Bancorp $FITB

Burnham & Co LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the financial services provider’s stock, valued at approximately $564,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. grew its position 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 valued at $199,000 after acquiring an additional 187 shares during the last quarter. Equitable Holdings Inc. lifted its holdings 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 worth $232,000 after acquiring an additional 195 shares during the last quarter. Basecamp Wealth Advisors LLC boosted its stake in shares of 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 valued at $180,000 after purchasing an additional 201 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Fifth Third Bancorp by 3.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 206 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of Fifth Third Bancorp by 19.2% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,319 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 212 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America lifted their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Royal Bank Of Canada raised their price target on Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Robert W. Baird boosted their price objective on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Zacks Research lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $60.54.

Check Out Our Latest Report on Fifth Third Bancorp

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $54.76 on Friday. The business’s fifty day moving average is $56.54 and its 200 day moving average is $51.97. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $59.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $49.66 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. Sell-side analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is currently 54.61%.

Fifth Third Bancorp Company Profile

(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.