Fifth Third Bancorp $FITB Shares Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 23.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 174,582 shares of the financial services provider’s stock after buying an additional 32,606 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Fifth Third Bancorp were worth $8,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its position in Fifth Third Bancorp by 4.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 187 shares during the period. Equitable Holdings Inc. grew its holdings in shares of Fifth Third Bancorp by 4.1% during the 4th quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 195 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 206 shares during the period. Keybank National Association OH increased its position in Fifth Third Bancorp by 0.3% during the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after purchasing an additional 214 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in Fifth Third Bancorp by 1.9% during the 4th quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

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

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. The Goldman Sachs Group 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 report on Wednesday, April 22nd. Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial upped their price target on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Fifth Third Bancorp in a report on Monday, May 4th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.94.

Fifth Third Bancorp Price Performance

FITB stock opened at $57.15 on Friday. The stock’s 50 day moving average is $51.42 and its two-hundred day moving average is $49.89. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $58.15. The company has a market capitalization of $51.80 billion, a PE ratio of 19.18, a P/E/G ratio of 1.09 and a beta of 0.90. 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 released its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.91 billion. During the same period in the prior year, the business posted $0.71 EPS. Analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Fifth Third Bancorp 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.