26,714 Shares in Fifth Third Bancorp $FITB Acquired by Vise Technologies Inc.

Vise Technologies Inc. purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,714 shares of the financial services provider’s stock, valued at approximately $1,506,000.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $1,324,903,000. Norges Bank purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth $649,264,000. Price T Rowe Associates Inc. MD raised its position in shares of Fifth Third Bancorp by 41.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock worth $1,664,013,000 after buying an additional 10,444,799 shares during the period. Clearbridge Investments LLC boosted its holdings in 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 acquiring an additional 2,644,332 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in Fifth Third Bancorp in the second quarter valued at $145,232,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.5%

Shares of NASDAQ:FITB opened at $54.76 on Friday. 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 has a 52-week low of $40.04 and a 52-week high of $59.50. The company has a 50 day moving average of $56.54 and a two-hundred day moving average of $51.97. The company has a market capitalization of $49.66 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results 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 for 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%.The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 annualized dividend and a yield of 2.9%. Fifth Third Bancorp’s payout ratio is 54.61%.

Wall Street Analyst Weigh In

Several brokerages have commented on FITB. Zacks Research lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Argus raised Fifth Third Bancorp to a “strong-buy” rating in a research note on Wednesday, July 22nd. UBS Group boosted their target price on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. One equities research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.