Banco Bilbao Vizcaya Argentaria S.A. Buys 451 Shares of Fifth Third Bancorp $FITB

Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,414 shares of the financial services provider’s stock after acquiring an additional 451 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Fifth Third Bancorp were worth $3,779,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Groupama Asset Managment raised its holdings in Fifth Third Bancorp by 11.9% in the 1st quarter. Groupama Asset Managment now owns 50,503 shares of the financial services provider’s stock valued at $1,960,000 after acquiring an additional 5,377 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Fifth Third Bancorp by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 28,190 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 2,215 shares in the last quarter. PL Capital Advisors LLC grew its position in shares of Fifth Third Bancorp by 3.6% during the 1st quarter. PL Capital Advisors LLC now owns 45,600 shares of the financial services provider’s stock worth $1,788,000 after purchasing an additional 1,600 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Fifth Third Bancorp by 114.2% during the 1st quarter. Quantbot Technologies LP now owns 36,004 shares of the financial services provider’s stock worth $1,411,000 after purchasing an additional 19,197 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Fifth Third Bancorp by 11.9% during the 1st quarter. Wellington Management Group LLP now owns 364,163 shares of the financial services provider’s stock worth $14,275,000 after purchasing an additional 38,799 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a “buy” rating and a $47.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. Cowen initiated coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. TD Cowen initiated coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $52.00 price target on the stock. Finally, DA Davidson upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and increased their price target for the stock from $42.00 to $47.00 in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.80.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $43.10 on Thursday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $28.53 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.39 and a beta of 0.91. The company’s 50 day moving average price is $41.85 and its two-hundred day moving average price is $39.91.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.96%.

Fifth Third Bancorp declared that its board has initiated a stock buyback plan on Monday, June 16th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Fifth Third Bancorp Company Profile

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.