ProShare Advisors LLC Has $7.11 Million Stock Position in Fifth Third Bancorp $FITB

ProShare Advisors LLC lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 48.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,775 shares of the financial services provider’s stock after selling 140,011 shares during the quarter. ProShare Advisors LLC’s holdings in Fifth Third Bancorp were worth $7,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock worth $3,929,647,000 after buying an additional 637,207 shares in the last quarter. Capital World Investors lifted its holdings in shares of Fifth Third Bancorp by 6.2% during the third quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock worth $1,373,490,000 after buying an additional 1,803,861 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Fifth Third Bancorp by 2.6% during the third quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock worth $945,556,000 after buying an additional 546,914 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Fifth Third Bancorp by 16.7% during the third quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock worth $714,457,000 after buying an additional 2,293,939 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Fifth Third Bancorp by 9.5% during the third quarter. Franklin Resources Inc. now owns 7,931,624 shares of the financial services provider’s stock worth $353,354,000 after buying an additional 690,648 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FITB shares. DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 20th. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Truist Financial set a $57.00 price target on Fifth Third Bancorp in a research note on Tuesday, April 21st. Argus upped their price objective on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research report on Thursday, January 22nd. Finally, Wolfe Research cut their price objective on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.19.

Fifth Third Bancorp Stock Up 0.6%

FITB stock opened at $49.16 on Friday. The stock has a market capitalization of $44.55 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.00 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 12 month low of $36.64 and a 12 month high of $55.44. The firm has a 50-day moving average price of $47.85 and a 200-day moving average price of $47.93.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Company Profile

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.