Fifth Third Bancorp $FITB Stock Holdings Boosted by Quadrant Capital Group LLC

Quadrant Capital Group LLC grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 44.1% during the 2nd quarter, Holdings Channel reports. The firm owned 30,906 shares of the financial services provider’s stock after purchasing an additional 9,452 shares during the period. Quadrant Capital Group LLC’s holdings in Fifth Third Bancorp were worth $1,271,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FITB. Tiemann Investment Advisors LLC grew its holdings in Fifth Third Bancorp by 3.9% during the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 250 shares during the period. CENTRAL TRUST Co boosted its position in shares of Fifth Third Bancorp by 4.1% during the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 260 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Fifth Third Bancorp by 11.9% in the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Fifth Third Bancorp by 1.5% in the 2nd quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 271 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Fifth Third Bancorp by 6.9% during the second quarter. Cullen Frost Bankers Inc. now owns 4,290 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.2%

NASDAQ:FITB opened at $43.44 on Friday. The business’s fifty day moving average price is $42.89 and its 200 day moving average price is $42.28. The firm has a market capitalization of $28.71 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.14 and a beta of 0.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $48.50.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 3.7%. Fifth Third Bancorp’s payout ratio is presently 47.76%.

Insiders Place Their Bets

In related news, Director Evan Bayh bought 3,000 shares of the business’s stock in a transaction on Monday, October 20th. The stock was bought at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the transaction, the director directly owned 84,942 shares in the company, valued at $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FITB shares. Citigroup upped their price target on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Stephens set a $52.00 target price on Fifth Third Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th. TD Cowen boosted their target price on Fifth Third Bancorp from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. UBS Group increased their price target on Fifth Third Bancorp from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, DA Davidson boosted their price objective on Fifth Third Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $50.35.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.