FNY Investment Advisers LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,000 shares of the financial services provider’s stock, valued at approximately $1,008,000.
Several other institutional investors have also modified their holdings of FITB. SRS Capital Advisors Inc. increased its position in shares of Fifth Third Bancorp by 82.1% in the 4th 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. boosted its stake in Fifth Third Bancorp by 38.6% during the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 480 shares during the period. First Command Bank boosted its stake in Fifth Third Bancorp by 2,825.0% during the 1st quarter. First Command Bank now owns 1,638 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,582 shares during the period. Executive Wealth Management LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth $69,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Fifth Third Bancorp by 2,225.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,689,396 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:FITB opened at $27.83 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $18.05 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.35 and a beta of 1.36. Fifth Third Bancorp has a 12-month low of $22.12 and a 12-month high of $34.67.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. 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 business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the sale, the executive vice president now owns 62,974 shares in the company, valued at $1,660,624.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Teresa J. Tanner sold 55,600 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $27.47, for a total transaction of $1,527,332.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,727 shares of company stock valued at $2,302,901. Insiders own 0.40% of the company’s stock.
Several research firms have recently commented on FITB. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets raised their target price on shares of Fifth Third Bancorp from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group raised their target price on shares of Fifth Third Bancorp from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Barclays raised their price target on shares of Fifth Third Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.67.
About Fifth Third Bancorp
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.
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