Keybank National Association OH Purchases 9,893 Shares of Fifth Third Bancorp $FITB

Keybank National Association OH boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,206 shares of the financial services provider’s stock after acquiring an additional 9,893 shares during the period. Keybank National Association OH’s holdings in Fifth Third Bancorp were worth $4,765,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FITB. Wellington Management Group LLP lifted its stake in Fifth Third Bancorp by 20.2% in the 2nd quarter. Wellington Management Group LLP now owns 23,653,758 shares of the financial services provider’s stock worth $1,333,362,000 after purchasing an additional 3,972,795 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Fifth Third Bancorp in the 2nd quarter valued at $1,324,903,000. Bank of America Corp DE purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at $995,717,000. Dimensional Fund Advisors LP grew its position in shares of Fifth Third Bancorp by 30.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,918,284 shares of the financial services provider’s stock valued at $507,151,000 after purchasing an additional 2,569,479 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Fifth Third Bancorp by 16.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,384,087 shares of the financial services provider’s stock valued at $416,241,000 after purchasing an additional 1,049,520 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $53.14, for a total value of $1,062,800.00. Following the completion of the transaction, the executive vice president directly owned 121,460 shares in the company, valued at approximately $6,454,384.40. The trade was a 14.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Trading Down 0.7%

Shares of Fifth Third Bancorp stock opened at $53.99 on Friday. Fifth Third Bancorp has a 1 year low of $40.68 and a 1 year high of $59.50. The firm has a market cap of $48.79 billion, a PE ratio of 18.12, a PEG ratio of 1.09 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50 day simple moving average of $52.68 and a two-hundred day simple moving average of $52.21.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Analysts expect that Fifth Third Bancorp will post 4.10 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.1%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 57.53%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Truist Financial dropped their price objective on Fifth Third Bancorp from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. TD Cowen started coverage on Fifth Third Bancorp in a research report on Thursday, October 8th. They set a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $60.87.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Fifth Third Bank, it provides consumer and commercial banking, lending, payment processing, and wealth and asset management services. The company traces its roots to 1858 and took the Fifth Third name following the 1908 merger of Fifth National Bank and Third National Bank. Its banking operations serve individuals, businesses, and communities across parts of the Midwest and Southeast, including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.