Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 136,905 shares of the financial services provider’s stock after acquiring an additional 18,186 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Fifth Third Bancorp were worth $3,468,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of FITB. Coastal Investment Advisors Inc. purchased a new position in shares of Fifth Third Bancorp in the second quarter valued at approximately $32,000. Archer Investment Corp acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth $33,000. Clear Street Markets LLC boosted its position in shares of Fifth Third Bancorp by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 647 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $38,000. Finally, Private Trust Co. NA raised its stake in Fifth Third Bancorp by 35.3% during the second quarter. Private Trust Co. NA now owns 1,676 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 437 shares during the period. Institutional investors and hedge funds own 77.96% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. UBS Group upped their price objective on Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 20th. Wells Fargo & Company upped their price target on Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Finally, The Goldman Sachs Group lifted their price objective on Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $34.63.
Fifth Third Bancorp Stock Performance
Shares of Fifth Third Bancorp stock opened at $34.11 on Tuesday. The business has a 50-day simple moving average of $33.96 and a 200-day simple moving average of $28.90. The company has a market cap of $23.23 billion, a PE ratio of 10.56, a P/E/G ratio of 1.28 and a beta of 1.27. Fifth Third Bancorp has a one year low of $22.11 and a one year high of $37.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter last year, the company earned $1.04 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.18 EPS for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 43.34%.
Fifth Third Bancorp Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. 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.
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