Susquehanna Fundamental Investments LLC Invests $951,000 in Fifth Third Bancorp (NASDAQ:FITB)

Susquehanna Fundamental Investments LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, Holdings Channel.com reports. The fund bought 22,500 shares of the financial services provider’s stock, valued at approximately $951,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Common Asset Management LLC grew its holdings in shares of Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after purchasing an additional 34,203 shares during the last quarter. Boston Partners grew its stake in Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock worth $597,692,000 after buying an additional 823,803 shares during the last quarter. AMJ Financial Wealth Management increased its position in Fifth Third Bancorp by 4.2% during the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after buying an additional 9,401 shares during the period. Banco Santander S.A. purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $357,000. Finally, Lockheed Martin Investment Management Co. acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $9,878,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $36.09 on Friday. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day simple moving average is $37.65 and its 200-day simple moving average is $42.20. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

FITB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Monday, April 7th. Truist Financial dropped their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.24.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

About Fifth Third Bancorp

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.