13,772 Shares in Fifth Third Bancorp $FITB Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, HoldingsChannel reports. The institutional investor bought 13,772 shares of the financial services provider’s stock, valued at approximately $614,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Generali Asset Management SPA SGR purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $1,314,000. Allspring Global Investments Holdings LLC grew its holdings in Fifth Third Bancorp by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,160,367 shares of the financial services provider’s stock valued at $346,326,000 after purchasing an additional 654,746 shares during the period. Huntington National Bank increased its position in Fifth Third Bancorp by 10.9% in the second quarter. Huntington National Bank now owns 121,225 shares of the financial services provider’s stock worth $4,986,000 after buying an additional 11,935 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Fifth Third Bancorp by 24.5% in the third quarter. Intact Investment Management Inc. now owns 119,400 shares of the financial services provider’s stock worth $5,319,000 after buying an additional 23,500 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Fifth Third Bancorp by 103.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,354,288 shares of the financial services provider’s stock valued at $56,095,000 after buying an additional 687,275 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the subject of several analyst reports. UBS Group raised shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, January 6th. Truist Financial increased their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday. Argus upped their target price on shares of Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Thursday, January 22nd. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.21.

Fifth Third Bancorp Stock Up 0.2%

Shares of FITB stock opened at $49.79 on Friday. The company’s fifty day simple moving average is $47.54 and its two-hundred day simple moving average is $44.78. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $53.33. The stock has a market cap of $32.91 billion, a P/E ratio of 14.07, a PEG ratio of 1.00 and a beta of 0.97. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. Analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

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.