Nisa Investment Advisors LLC Buys 16,743 Shares of Fifth Third Bancorp $FITB

Nisa Investment Advisors LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 400,804 shares of the financial services provider’s stock after buying an additional 16,743 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $18,016,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 4.1% during the 1st quarter. NewEdge Advisors LLC now owns 43,479 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 1,723 shares during the period. Arete Wealth Advisors LLC bought a new stake in Fifth Third Bancorp in the first quarter worth about $203,000. MBB Public Markets I LLC purchased a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $298,000. Empowered Funds LLC grew its stake in shares of Fifth Third Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after buying an additional 916 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Fifth Third Bancorp by 40.5% in the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock worth $2,218,000 after buying an additional 16,323 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Finally, DA Davidson upped their target price on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Fifth Third Bancorp Stock Down 1.1%

Shares of Fifth Third Bancorp stock opened at $49.27 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $32.57 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.88 and a beta of 0.97. The firm’s 50-day moving average is $45.41 and its two-hundred day moving average is $44.07. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $50.47.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The firm had revenue of $3.82 billion during the quarter. As a group, research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.76%.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Evan Bayh acquired 3,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average price of $41.22 per share, with a total value of $123,660.00. Following the purchase, the director owned 84,942 shares in the company, valued at $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.53% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.