Fifth Third Bancorp $FITB Shares Bought by World Investment Advisors

World Investment Advisors raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 245.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,621 shares of the financial services provider’s stock after acquiring an additional 24,601 shares during the quarter. World Investment Advisors’ holdings in Fifth Third Bancorp were worth $1,609,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in Fifth Third Bancorp by 46.0% in the 1st quarter. New York State Teachers Retirement System now owns 814,018 shares of the financial services provider’s stock valued at $37,819,000 after acquiring an additional 256,473 shares during the last quarter. Private Advisor Group LLC raised its position in Fifth Third Bancorp by 23.7% during the first quarter. Private Advisor Group LLC now owns 28,688 shares of the financial services provider’s stock worth $1,333,000 after acquiring an additional 5,498 shares during the last quarter. Optas LLC purchased a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $213,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Fifth Third Bancorp by 156.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 246,001 shares of the financial services provider’s stock valued at $11,429,000 after purchasing an additional 150,157 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC grew its position in shares of Fifth Third Bancorp by 393.4% in the first quarter. Elevation Point Wealth Partners LLC now owns 33,134 shares of the financial services provider’s stock valued at $1,552,000 after purchasing an additional 26,418 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Fifth Third Bancorp from $54.50 to $61.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley upped their price objective on Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Robert W. Baird lifted their price objective on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Fifth Third Bancorp in a research note on Monday, May 4th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $59.11.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $57.99 on Wednesday. The firm’s fifty day simple moving average is $51.86 and its 200 day simple moving average is $50.10. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $58.52. The firm has a market capitalization of $52.56 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.91 billion. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 payout ratio is 53.69%.

Insider Activity

In related news, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $1,009,200.00. Following the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Company Profile

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.