Stevens Capital Partners Makes New $575,000 Investment in Fifth Third Bancorp $FITB

Stevens Capital Partners acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,209 shares of the financial services provider’s stock, valued at approximately $575,000.

Several other institutional investors also recently modified their holdings of FITB. Center for Financial Planning Inc. bought a new stake in Fifth Third Bancorp during the first quarter worth $25,000. SouthState Bank Corp raised its stake in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 236 shares during the period. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $29,000. Clearstead Trust LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter worth about $29,000. Finally, Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $30,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Down 0.5%

Shares of FITB opened at $57.30 on Wednesday. The firm’s 50 day simple moving average is $56.47 and its 200 day simple moving average is $51.88. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $51.96 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 earnings per share (EPS) 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 analysts’ expectations of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.40 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Bank of America raised their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. The Goldman Sachs Group upped their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. UBS Group increased their price objective on Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Argus raised Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average price target of $60.54.

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.