CVA Family Office LLC Makes New $142,000 Investment in Fifth Third Bancorp (NASDAQ:FITB)

CVA Family Office LLC purchased a new stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,110 shares of the financial services provider’s stock, valued at approximately $142,000.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Fifth Third Bancorp in the 4th quarter worth $185,924,000. BlackRock Inc. grew its holdings in shares of Fifth Third Bancorp by 6.2% during the first quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock worth $1,565,617,000 after buying an additional 3,448,642 shares in the last quarter. Boston Partners raised its position in Fifth Third Bancorp by 32.1% in the 3rd quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after buying an additional 3,176,903 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Fifth Third Bancorp in the 1st quarter valued at approximately $73,081,000. Finally, Morgan Stanley boosted its position in Fifth Third Bancorp by 18.8% during the 4th quarter. Morgan Stanley now owns 11,944,073 shares of the financial services provider’s stock worth $391,885,000 after acquiring an additional 1,891,388 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FITB has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Keefe, Bruyette & Woods cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. Royal Bank of Canada upped their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. The Goldman Sachs Group raised their price target 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. Finally, UBS Group upped their price objective on Fifth Third Bancorp from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $35.30.

Check Out Our Latest Analysis on FITB

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $36.25 on Tuesday. The firm has a market cap of $24.69 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The business’s 50 day moving average is $34.61 and its 200-day moving average is $30.54. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.36.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the firm earned $1.04 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.16 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 43.34%.

Fifth Third Bancorp Profile

(Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

See Also

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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