Man Group plc acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 181,117 shares of the financial services provider’s stock, valued at approximately $10,210,000.
Several other hedge funds and other institutional investors have also bought and sold shares of FITB. Center for Financial Planning Inc. bought a new stake in Fifth Third Bancorp in the 1st quarter valued at about $25,000. SouthState Bank Corp grew its stake in Fifth Third Bancorp by 74.7% in the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $29,000. Clearstead Trust LLC acquired a new position in shares of Fifth Third Bancorp during the second quarter worth approximately $29,000. Finally, Leonteq Securities AG bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $30,000. Institutional investors and hedge funds own 83.79% of the company’s stock.
Analyst Ratings Changes
FITB has been the topic of several research reports. Argus upgraded shares of Fifth Third Bancorp to a “strong-buy” rating in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Robert W. Baird raised their price target on shares of 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, DA Davidson lifted their price target on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average target price of $60.54.
Fifth Third Bancorp Stock Down 0.5%
Fifth Third Bancorp stock opened at $54.57 on Friday. 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 firm’s 50-day simple moving average is $56.74 and its 200 day simple moving average is $52.01. The stock has a market cap of $49.49 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the business posted $0.88 EPS. The company’s quarterly revenue was up 45.8% on a year-over-year basis. Research analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 54.61%.
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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