Kepler Cheuvreux Suisse SA Makes New $887,000 Investment in Fifth Third Bancorp $FITB

Kepler Cheuvreux Suisse SA purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,096 shares of the financial services provider’s stock, valued at approximately $887,000.

Several other institutional investors have also modified their holdings of FITB. Harbor Investment Advisory LLC boosted its holdings in Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares during the period. Monetary Solutions Ltd purchased a new stake in Fifth Third Bancorp during the 4th quarter worth about $29,000. Leonteq Securities AG purchased a new stake in Fifth Third Bancorp during the 4th quarter worth about $30,000. Reflection Asset Management acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at about $30,000. Finally, EFG International AG purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FITB. Stephens initiated coverage on Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 price objective for the company. Truist Financial lifted their price target on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. DA Davidson reiterated a “buy” rating and set a $58.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 20th. Robert W. Baird increased their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Fifth Third Bancorp in a report on Monday, May 4th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $57.94.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction on 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 owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Price Performance

FITB stock opened at $57.15 on Monday. The business has a 50 day moving average price of $51.55 and a 200 day moving average price of $49.96. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock has a market cap of $51.80 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $58.15.

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

Fifth Third Bancorp Dividend Announcement

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

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.