Titan Investment Management LLC Makes New $2.73 Million Investment in Fifth Third Bancorp $FITB

Titan Investment Management LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 58,397 shares of the financial services provider’s stock, valued at approximately $2,734,000. Fifth Third Bancorp comprises 2.5% of Titan Investment Management LLC’s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its position in Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 517 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. Leonteq Securities AG purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $30,000. EFG International AG acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Fifth Third Bancorp by 619.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after buying an additional 632 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wolfe Research dropped their price objective on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Morgan Stanley lowered their price target on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. DA Davidson reaffirmed a “buy” rating and set a $58.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 20th. Barclays boosted their price objective on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.34.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $52.82 on Friday. The business’s fifty day moving average price is $50.28 and its 200 day moving average price is $49.19. Fifth Third Bancorp has a 12-month low of $38.91 and a 12-month high of $55.44. The stock has a market capitalization of $47.87 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 53.69%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.