Capital Research Global Investors Has $301.96 Million Stock Position in Fifth Third Bancorp $FITB

Capital Research Global Investors raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 12.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,450,801 shares of the financial services provider’s stock after buying an additional 731,799 shares during the quarter. Capital Research Global Investors’ holdings in Fifth Third Bancorp were worth $301,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. grew its holdings in Fifth Third Bancorp by 4.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after buying an additional 187 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Fifth Third Bancorp by 3.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after buying an additional 206 shares during the last quarter. Keybank National Association OH grew its holdings in Fifth Third Bancorp by 0.3% in the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock valued at $3,015,000 after buying an additional 214 shares during the last quarter. Austin Private Wealth LLC grew its holdings in Fifth Third Bancorp by 2.7% in the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock valued at $407,000 after buying an additional 228 shares during the last quarter. Finally, Ignite Planners LLC grew its holdings in Fifth Third Bancorp by 5.3% in the 4th quarter. Ignite Planners LLC now owns 4,815 shares of the financial services provider’s stock valued at $242,000 after buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $52.01 on Monday. The stock has a 50 day moving average of $49.08 and a two-hundred day moving average of $48.52. 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 12 month low of $37.86 and a 12 month high of $55.44. The company has a market capitalization of $47.14 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.06 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the company earned $0.71 EPS. As a group, equities analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Analyst Ratings Changes

A number of research firms have issued reports on FITB. Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Jefferies Financial Group raised their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Evercore raised their target price on Fifth Third Bancorp from $51.00 to $53.00 in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, May 4th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.19.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by company insiders.

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.