Fifth Third Bancorp $FITB Shares Acquired by Invesco Ltd.

Invesco Ltd. grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 12.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,799,312 shares of the financial services provider’s stock after buying an additional 2,574,712 shares during the period. Invesco Ltd.’s holdings in Fifth Third Bancorp were worth $1,114,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Fifth Third Bancorp by 4.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after buying an additional 187 shares during the period. Equitable Holdings Inc. raised its stake in Fifth Third Bancorp by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 195 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Fifth Third Bancorp by 3.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 206 shares during the last quarter. Keybank National Association OH lifted its holdings in Fifth Third Bancorp by 0.3% in the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after acquiring an additional 214 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in Fifth Third Bancorp by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 216 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the sale, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wolfe Research lowered their target price on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Evercore boosted their price objective on Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. Zacks Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Stephens assumed coverage on Fifth Third Bancorp in a research report on Monday. They issued an “equal weight” rating and a $58.00 target price on the stock. Finally, Robert W. Baird raised their target price on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.34.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $52.82 on Friday. The firm’s 50 day moving average is $50.28 and its two-hundred day moving average is $49.19. Fifth Third Bancorp has a 52 week low of $38.91 and a 52 week high of $55.44. The firm has a market capitalization of $47.87 billion, a P/E ratio of 17.72, a PEG ratio of 1.09 and a beta of 0.92. 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 (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.71 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 53.69%.

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.