92,954 Shares in Fifth Third Bancorp $FITB Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 92,954 shares of the financial services provider’s stock, valued at approximately $4,319,000.

Other large investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $29,000. Leonteq Securities AG acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $30,000. Reflection Asset Management purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth $30,000. Finally, EFG International AG acquired a new position in Fifth Third Bancorp in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the sale, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $56.47 on Friday. The business’s 50-day simple moving average is $50.90 and its 200 day simple moving average is $49.59. The company has a market cap of $51.18 billion, a P/E ratio of 18.95, a PEG ratio of 1.09 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $56.77.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the prior year, the business earned $0.71 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FITB shares. Robert W. Baird boosted their price target on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Jefferies Financial Group lifted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Truist Financial boosted their target price on Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. 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. Finally, Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.74.

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.