22,387 Shares in Fifth Third Bancorp $FITB Purchased by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 22,387 shares of the financial services provider’s stock, valued at approximately $1,048,000.

Other hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. lifted its stake in Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 517 shares in the last quarter. Leonteq Securities AG purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $30,000. Quest 10 Wealth Builders Inc. lifted its stake in Fifth Third Bancorp by 619.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 632 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of Fifth Third Bancorp by 77.6% during the 4th quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 322 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $52.01 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $47.14 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.06 and a beta of 0.92. The business’s 50-day simple moving average is $49.08 and its 200-day simple moving average is $48.47. Fifth Third Bancorp has a 52 week low of $37.86 and a 52 week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter in the prior year, the firm posted $0.71 EPS. As a group, equities research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.40 per share. 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 3.1%. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial set a $57.00 price target on Fifth Third Bancorp in a research note on Tuesday, April 21st. Evercore raised their price target on Fifth Third Bancorp from $51.00 to $53.00 in a research note on Tuesday, April 21st. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Robert W. Baird raised their price target on Fifth Third Bancorp from $55.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.19.

Insider Transactions at Fifth Third Bancorp

In other news, 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 transaction, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president directly owned 76,299 shares in the company, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% 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.