Danske Bank A S Takes $23.74 Million Position in Fifth Third Bancorp $FITB

Danske Bank A S bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 421,074 shares of the financial services provider’s stock, valued at approximately $23,736,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in Fifth Third Bancorp in the 2nd quarter valued at $1,324,903,000. Norges Bank bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $649,264,000. Price T Rowe Associates Inc. MD increased its stake in shares of Fifth Third Bancorp by 41.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after buying an additional 10,444,799 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Fifth Third Bancorp by 719.2% in the fourth quarter. Clearbridge Investments LLC now owns 3,012,022 shares of the financial services provider’s stock valued at $140,993,000 after buying an additional 2,644,332 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Fifth Third Bancorp in the second quarter valued at about $145,232,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 4.1%

Shares of FITB opened at $54.96 on Thursday. The stock’s fifty day simple moving average is $56.52 and its 200-day simple moving average is $51.92. The firm has a market capitalization of $49.84 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $59.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.Fifth Third Bancorp’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 54.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada raised their price objective on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Evercore set a $60.00 target price on shares of Fifth Third Bancorp in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Citigroup increased their price target on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $60.54.

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.