Fifth Third Bancorp (NASDAQ:FITB) Stake Increased by Prudential PLC

Prudential PLC increased its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,210 shares of the financial services provider’s stock after buying an additional 48,569 shares during the period. Prudential PLC’s holdings in Fifth Third Bancorp were worth $8,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. boosted its holdings in Fifth Third Bancorp by 3.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 300 shares during the period. Lcnb Corp boosted its holdings in Fifth Third Bancorp by 1.7% in the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 319 shares during the period. Independence Bank of Kentucky boosted its holdings in Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 355 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 3.5% in the third quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 389 shares during the period. Finally, Vicus Capital boosted its holdings in Fifth Third Bancorp by 4.1% in the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.1 %

Shares of NASDAQ FITB traded up $0.02 during trading hours on Friday, hitting $36.13. The stock had a trading volume of 3,722,793 shares, compared to its average volume of 4,852,895. The company has a market capitalization of $24.71 billion, a P/E ratio of 11.47, a P/E/G ratio of 2.52 and a beta of 1.24. The firm’s 50-day moving average price is $36.74 and its two-hundred day moving average price is $34.82. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter in the prior year, the business earned $0.78 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.87%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Analyst Ratings Changes

A number of research firms have commented on FITB. DA Davidson lifted their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. Finally, Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $36.86.

View Our Latest Analysis on FITB

Insiders Place Their Bets

In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock valued at $1,787,638 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Profile

(Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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