MUFG Securities EMEA plc Has $1.27 Million Position in Fifth Third Bancorp $FITB

MUFG Securities EMEA plc grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 114.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,165 shares of the financial services provider’s stock after purchasing an additional 14,496 shares during the period. MUFG Securities EMEA plc’s holdings in Fifth Third Bancorp were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in shares of Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. United Community Bank boosted its position in Fifth Third Bancorp by 581.0% during the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares during the period. Leonteq Securities AG acquired a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $30,000. Finally, Quest 10 Wealth Builders Inc. boosted its position in Fifth Third Bancorp by 619.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock worth $34,000 after buying an additional 632 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wolfe Research cut their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Truist Financial set a $57.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group lifted their target price 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 8th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.19.

Fifth Third Bancorp Stock Up 3.6%

Fifth Third Bancorp stock opened at $50.31 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a 52-week low of $37.81 and a 52-week high of $55.44. The firm has a 50 day moving average price of $48.63 and a two-hundred day moving average price of $48.28. The firm has a market cap of $45.60 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.99 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the business earned $0.71 EPS. Equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 53.69%.

Insider Activity at Fifth Third Bancorp

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

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.