Fifth Third Bancorp $FITB Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 6.4% in the second quarter, HoldingsChannel reports. The firm owned 218,226 shares of the financial services provider’s stock after purchasing an additional 13,194 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $8,989,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FITB. Harbour Investments Inc. grew its position in shares of Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after buying an additional 263 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Fifth Third Bancorp by 1.5% during the 2nd quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock worth $759,000 after acquiring an additional 271 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Fifth Third Bancorp by 6.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,290 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 276 shares during the last quarter. Commerce Bank raised its stake in shares of Fifth Third Bancorp by 0.7% in the 1st quarter. Commerce Bank now owns 40,331 shares of the financial services provider’s stock valued at $1,581,000 after purchasing an additional 282 shares in the last quarter. Finally, BankPlus Trust Department lifted its position in shares of Fifth Third Bancorp by 53.0% during the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 290 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Evan Bayh bought 3,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the transaction, the director directly owned 84,942 shares in the company, valued at $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FITB shares. Morgan Stanley set a $60.00 price objective on Fifth Third Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 7th. UBS Group boosted their price target on Fifth Third Bancorp from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. The Goldman Sachs Group raised their price objective on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Wednesday, October 8th. Finally, Stephens set a $52.00 target price on shares of Fifth Third Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.35.

Fifth Third Bancorp Stock Up 0.8%

Fifth Third Bancorp stock opened at $42.87 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The company has a 50-day simple moving average of $43.83 and a 200-day simple moving average of $41.68. The firm has a market capitalization of $28.38 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.14 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business posted $0.78 EPS. Fifth Third Bancorp’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.40 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.7%. Fifth Third Bancorp’s dividend payout ratio is currently 47.76%.

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.