Integrated Investment Consultants LLC Takes Position in Fifth Third Bancorp $FITB

Integrated Investment Consultants LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) during the first quarter, HoldingsChannel.com reports. The fund acquired 10,056 shares of the financial services provider’s stock, valued at approximately $467,000.

Other institutional investors have also added to or reduced their stakes in the company. Cozad Asset Management Inc. increased its position in Fifth Third Bancorp by 15.3% during the 1st quarter. Cozad Asset Management Inc. now owns 16,593 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 2,200 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Fifth Third Bancorp by 36.8% in the 1st quarter. Glenmede Trust Co. NA now owns 43,692 shares of the financial services provider’s stock worth $2,030,000 after purchasing an additional 11,755 shares during the period. GKV Capital Management Co. Inc. acquired a new position in shares of Fifth Third Bancorp in the 1st quarter worth approximately $381,000. Vestor Capital LLC boosted its stake in shares of Fifth Third Bancorp by 59.2% in the 1st quarter. Vestor Capital LLC now owns 8,623 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 3,207 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 164.6% in the 1st quarter. Arete Wealth Advisors LLC now owns 31,435 shares of the financial services provider’s stock valued at $1,459,000 after purchasing an additional 19,553 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB opened at $56.55 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average price is $54.80 and its two-hundred day moving average price is $51.23. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50. The company has a market cap of $51.25 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.40 dividend. The ex-dividend date of this dividend was 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 presently 54.61%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FITB. Citigroup lifted their target price on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Royal Bank Of Canada upped their price target on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Wall Street Zen upgraded Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Barclays boosted their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp 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.