Fifth Third Bancorp $FITB Shares Acquired by Fieldview Capital Management LLC

Fieldview Capital Management LLC lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,585 shares of the financial services provider’s stock after purchasing an additional 19,365 shares during the period. Fifth Third Bancorp accounts for 1.2% of Fieldview Capital Management LLC’s portfolio, making the stock its 3rd largest position. Fieldview Capital Management LLC’s holdings in Fifth Third Bancorp were worth $6,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Bahl & Gaynor Inc. lifted its position in Fifth Third Bancorp by 18.0% in the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock valued at $7,189,000 after acquiring an additional 24,566 shares in the last quarter. Nordea Investment Management AB lifted its position in Fifth Third Bancorp by 3.2% in the 4th quarter. Nordea Investment Management AB now owns 1,276,429 shares of the financial services provider’s stock valued at $59,788,000 after acquiring an additional 39,261 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Fifth Third Bancorp by 26.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider’s stock valued at $72,169,000 after acquiring an additional 340,030 shares in the last quarter. Barclays PLC lifted its position in Fifth Third Bancorp by 27.0% in the 3rd quarter. Barclays PLC now owns 3,947,246 shares of the financial services provider’s stock valued at $175,850,000 after acquiring an additional 840,094 shares in the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at $8,529,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FITB shares. 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. Robert W. Baird raised their price target on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Evercore raised their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research note on Tuesday, April 21st. Wolfe Research decreased their price target on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Finally, 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. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.29.

Fifth Third Bancorp Stock Up 2.4%

Shares of FITB stock opened at $54.71 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day moving average is $49.83 and its 200-day moving average is $48.87. The stock has a market cap of $49.59 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.09 and a beta of 0.92. Fifth Third Bancorp has a 52-week low of $37.86 and a 52-week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the prior year, the firm earned $0.71 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the 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 transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares in the company, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate 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.