25,070 Shares in Fifth Third Bancorp $FITB Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, HoldingsChannel reports. The firm bought 25,070 shares of the financial services provider’s stock, valued at approximately $1,413,000.

A number of other large investors have also recently added to or reduced their stakes in FITB. Public Employees Retirement System of Ohio acquired a new position in Fifth Third Bancorp in the second quarter worth approximately $15,784,000. Proficio Capital Partners LLC bought a new position in shares of Fifth Third Bancorp in the second quarter valued at $384,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $217,000. Corient Private Wealth LP acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $21,139,000. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth $321,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $54.57 on Friday. The business’s 50-day moving average is $56.74 and its 200-day moving average is $52.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $59.50.

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

Fifth Third Bancorp Announces Dividend

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

Analysts Set New Price Targets

FITB has been the topic of a number of recent analyst reports. Stephens began coverage on Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Robert W. Baird raised their target price on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.54.

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.