10,124 Shares in Fifth Third Bancorp $FITB Bought by Rexford Capital Inc.

Rexford Capital Inc. purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,124 shares of the financial services provider’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Premier Path Wealth Partners LLC lifted its position in shares of Fifth Third Bancorp by 18.1% in the first quarter. Premier Path Wealth Partners LLC now owns 10,126 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 1,549 shares in the last quarter. McMillan Office Inc. bought a new stake in Fifth Third Bancorp during the 1st quarter valued at approximately $7,719,000. EWA LLC bought a new stake in Fifth Third Bancorp during the 1st quarter valued at approximately $213,000. Lansforsakringar Fondforvaltning AB publ lifted its holdings in Fifth Third Bancorp by 9.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 6,985 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 610 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in Fifth Third Bancorp by 65.4% in the 1st quarter. North Star Investment Management Corp. now owns 189,895 shares of the financial services provider’s stock worth $8,823,000 after purchasing an additional 75,103 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the 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 completion of the sale, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $56.46 on Wednesday. The firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.09 and a beta of 0.92. 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 business has a 50 day simple moving average of $51.17 and a 200-day simple moving average of $49.77. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $56.94.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share 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 firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Equities analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. Fifth Third Bancorp’s payout ratio is 53.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FITB shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Fifth Third Bancorp in a report on Monday, May 4th. Zacks Research downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. DA Davidson restated a “buy” rating and set a $58.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 20th. Stephens started coverage on shares of Fifth Third Bancorp in a research note on Monday, June 15th. They set an “equal weight” rating and a $58.00 target price for the company. Finally, Evercore lifted their price target on shares of Fifth Third Bancorp from $53.00 to $58.00 in a report on Wednesday, June 24th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.94.

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.