AdvisorNet Financial Inc raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,735 shares of the financial services provider’s stock after acquiring an additional 963 shares during the quarter. AdvisorNet Financial Inc’s holdings in Fifth Third Bancorp were worth $394,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new stake in Fifth Third Bancorp during the first quarter valued at about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $31,000. Wagner Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 82.5% in the fourth quarter. Wagner Wealth Management LLC now owns 794 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 359 shares during the last quarter. Covestor Ltd bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $37,000. Finally, James Reed Financial Services Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $42,000. 81.33% of the stock is owned by institutional investors.
Analyst Ratings Changes
FITB has been the topic of several research reports. Piper Sandler reduced their target price on Fifth Third Bancorp to $40.00 in a report on Friday, July 22nd. Citigroup reduced their target price on Fifth Third Bancorp from $44.00 to $37.00 in a report on Tuesday, July 12th. Jefferies Financial Group dropped their price target on Fifth Third Bancorp from $47.00 to $39.00 in a research report on Monday, July 11th. Wells Fargo & Company dropped their price target on Fifth Third Bancorp from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Finally, Barclays dropped their price target on Fifth Third Bancorp from $57.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.47.
Insider Activity at Fifth Third Bancorp
Fifth Third Bancorp Stock Up 1.2 %
Shares of NASDAQ:FITB opened at $35.44 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a market capitalization of $24.32 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The business has a 50 day simple moving average of $34.80 and a two-hundred day simple moving average of $37.58. Fifth Third Bancorp has a 1 year low of $31.80 and a 1 year high of $50.64.
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.11). Fifth Third Bancorp had a net margin of 29.09% and a return on equity of 12.99%. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post 3.54 EPS for the current year.
Fifth Third Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.33 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, September 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.72%. Fifth Third Bancorp’s payout ratio is presently 36.25%.
Fifth Third Bancorp Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
- Get a free copy of the StockNews.com research report on Fifth Third Bancorp (FITB)
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