Jupiter Topco LLC Makes New $5.48 Million Investment in Fifth Third Bancorp $FITB

Jupiter Topco LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 97,250 shares of the financial services provider’s stock, valued at approximately $5,480,000.

A number of other large investors have also recently modified their holdings of FITB. Clearstead Trust LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter valued at about $29,000. Center for Financial Planning Inc. purchased a new stake in Fifth Third Bancorp in the first quarter worth about $25,000. SouthState Bank Corp boosted its position in Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 236 shares in the last quarter. Monetary Solutions Ltd bought a new stake in Fifth Third Bancorp during the 4th quarter valued at approximately $29,000. Finally, Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $30,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FITB shares. Bank of America increased their target price on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Truist Financial increased their price objective on Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. UBS Group raised their price objective on Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, 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 report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.54.

Fifth Third Bancorp Price Performance

FITB stock opened at $53.85 on Tuesday. 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 50 day moving average price of $56.74 and a 200-day moving average price of $51.99. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $59.50. The firm has a market capitalization of $48.84 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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 company had revenue of $3.26 billion for 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 earned $0.88 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is currently 54.61%.

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.