US Bancorp DE Has $17.66 Million Stock Position in Fifth Third Bancorp $FITB

US Bancorp DE reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 377,253 shares of the financial services provider’s stock after selling 10,345 shares during the quarter. US Bancorp DE owned approximately 0.06% of Fifth Third Bancorp worth $17,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. AE Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 4.7% during the 3rd quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider’s stock worth $15,503,000 after buying an additional 15,627 shares during the period. Bahl & Gaynor Inc. lifted its holdings in Fifth Third Bancorp by 18.0% during the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock worth $7,189,000 after buying an additional 24,566 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Fifth Third Bancorp by 2.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider’s stock worth $90,131,000 after buying an additional 48,080 shares during the period. Generali Asset Management SPA SGR acquired a new position in Fifth Third Bancorp during the 3rd quarter worth about $1,314,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Fifth Third Bancorp by 26.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider’s stock worth $72,169,000 after buying an additional 340,030 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin J. Khanna sold 6,000 shares of the business’s 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 sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the business’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 completion of the sale, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FITB. UBS Group reaffirmed a “buy” rating and set a $59.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, February 4th. Weiss Ratings raised Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a report on Monday, March 30th. Zacks Research raised Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Finally, Evercore boosted their price objective on Fifth Third Bancorp from $51.00 to $53.00 in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.19.

Fifth Third Bancorp Stock Down 0.6%

Shares of NASDAQ:FITB opened at $50.46 on Friday. The company has a market capitalization of $45.70 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.04 and a beta of 0.94. 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 business’s 50-day moving average is $48.11 and its 200-day moving average is $47.25. Fifth Third Bancorp has a 1 year low of $36.48 and a 1 year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the business earned $0.71 EPS. Equities research analysts predict that Fifth Third Bancorp will post 4.09 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is presently 53.69%.

Fifth Third Bancorp Company 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.