First Command Financial Services Inc. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2,825.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,638 shares of the financial services provider’s stock after buying an additional 1,582 shares during the quarter. First Command Financial Services Inc.’s holdings in Fifth Third Bancorp were worth $41,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in FITB. SRS Capital Advisors Inc. raised its position in Fifth Third Bancorp by 82.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 487 shares during the last quarter. JOYN Advisors Inc. raised its position in Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 480 shares during the last quarter. Executive Wealth Management LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $69,000. Lindbrook Capital LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $75,000. Finally, Oregon Public Employees Retirement Fund raised its position in Fifth Third Bancorp by 2,225.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,689,396 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.
FITB has been the subject of several research reports. Stephens upgraded Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. Barclays lowered their price objective on Fifth Third Bancorp from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, January 8th. Citigroup upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $37.00 to $29.00 in a research report on Wednesday, January 9th. Finally, BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus price target of $31.31.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm posted $0.48 earnings per share. Research analysts forecast that Fifth Third Bancorp will post 2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.24%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 34.65%.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following the completion of the sale, the executive vice president now owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.40% of the company’s stock.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
Further Reading: Percentage Decliners
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