Fifth Third Bancorp (NASDAQ:FITB) Stock Holdings Increased by National Pension Service

National Pension Service boosted its position in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,035,314 shares of the financial services provider’s stock after buying an additional 47,372 shares during the quarter. National Pension Service’s holdings in Fifth Third Bancorp were worth $33,182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neuberger Berman Group LLC grew its holdings in shares of Fifth Third Bancorp by 127.4% during the third quarter. Neuberger Berman Group LLC now owns 4,469,859 shares of the financial services provider’s stock valued at $142,864,000 after purchasing an additional 2,504,590 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Fifth Third Bancorp by 5.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 30,415,133 shares of the financial services provider’s stock valued at $972,070,000 after purchasing an additional 1,507,964 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Fifth Third Bancorp by 9.5% during the second quarter. JPMorgan Chase & Co. now owns 16,066,759 shares of the financial services provider’s stock valued at $539,843,000 after purchasing an additional 1,390,960 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Fifth Third Bancorp by 175.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,267,823 shares of the financial services provider’s stock valued at $42,599,000 after purchasing an additional 807,443 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Fifth Third Bancorp by 0.9% during the third quarter. Vanguard Group Inc. now owns 85,547,660 shares of the financial services provider’s stock valued at $2,734,103,000 after purchasing an additional 792,580 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB opened at $26.46 on Friday. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.77. Fifth Third Bancorp has a 1-year low of $22.11 and a 1-year high of $48.03. The business has a 50 day moving average price of $34.89 and a two-hundred day moving average price of $34.35.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Fifth Third Bancorp had a return on equity of 15.48% and a net margin of 26.15%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. Research analysts predict that Fifth Third Bancorp will post 3.76 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.99%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 39.29%.

Insider Activity

In other news, EVP Howard Hammond sold 1,000 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $37.32, for a total transaction of $37,320.00. Following the completion of the sale, the executive vice president now owns 49,202 shares in the company, valued at approximately $1,836,218.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gary R. Heminger acquired 33,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $26.82 per share, for a total transaction of $885,060.00. Following the transaction, the director now owns 127,043 shares of the company’s stock, valued at $3,407,293.26. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Howard Hammond sold 1,000 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $37.32, for a total value of $37,320.00. Following the sale, the executive vice president now owns 49,202 shares of the company’s stock, valued at approximately $1,836,218.64. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on FITB shares. Citigroup upped their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. StockNews.com upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, March 10th. Piper Sandler reduced their price objective on Fifth Third Bancorp from $43.00 to $40.00 in a research report on Friday, March 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Fifth Third Bancorp from $44.00 to $37.00 in a research report on Friday, January 6th. Finally, Barclays reduced their price objective on Fifth Third Bancorp from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $40.90.

Fifth Third Bancorp Profile

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Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth and Asset Management.