Fifth Third Bancorp $FITB Stock Holdings Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 32.2% during the first quarter, Holdings Channel reports. The fund owned 47,073 shares of the financial services provider’s stock after purchasing an additional 11,476 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $2,187,000 as of its most recent filing with the Securities & Exchange Commission.

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

Fifth Third Bancorp Stock Performance

FITB opened at $57.11 on Wednesday. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $58.51. The business has a 50 day moving average price of $52.51 and a two-hundred day moving average price of $50.41.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the firm earned $0.71 EPS. Research analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp 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 directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’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 owned 76,299 shares in the company, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on FITB shares. Evercore set a $60.00 target price on Fifth Third Bancorp in a research report on Monday, July 6th. Wolfe Research reduced their price target on 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. Morgan Stanley increased their price target on Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.11.

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.