Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 20.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,506 shares of the financial services provider’s stock after purchasing an additional 2,104 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Fifth Third Bancorp were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in shares of Fifth Third Bancorp by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after buying an additional 3,476 shares during the period. Nordea Investment Management AB grew its position in shares of Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock valued at $25,551,000 after purchasing an additional 269,152 shares during the period. Raymond James & Associates lifted its position in Fifth Third Bancorp by 11.7% during the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after buying an additional 69,273 shares during the period. International Assets Investment Management LLC boosted its stake in Fifth Third Bancorp by 48.0% in the 4th quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after buying an additional 113,838 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after acquiring an additional 393,937 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 1.8 %

NASDAQ:FITB opened at $37.56 on Monday. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.42 and a beta of 1.24. The business has a fifty day moving average of $35.88 and a 200-day moving average of $32.76. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.22 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.73%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insider Activity

In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,857 shares of company stock worth $1,787,638. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Stephens reiterated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 price objective (up from $39.00) on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $36.50.

Fifth Third Bancorp Profile

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.