Sapient Capital LLC Has $13.11 Million Stock Holdings in Fifth Third Bancorp $FITB

Sapient Capital LLC grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 230,945 shares of the financial services provider’s stock after acquiring an additional 12,912 shares during the quarter. Sapient Capital LLC’s holdings in Fifth Third Bancorp were worth $13,111,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FITB. Bank of New York Mellon Corp raised its stake in Fifth Third Bancorp by 303.4% in the first quarter. Bank of New York Mellon Corp now owns 20,079,733 shares of the financial services provider’s stock valued at $932,904,000 after purchasing an additional 15,101,629 shares in the last quarter. Norges Bank acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $649,264,000. Price T Rowe Associates Inc. MD increased its holdings in Fifth Third Bancorp by 41.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after buying an additional 10,444,799 shares during the period. Clearbridge Investments LLC increased its holdings in Fifth Third Bancorp by 719.2% in the 4th quarter. Clearbridge Investments LLC now owns 3,012,022 shares of the financial services provider’s stock valued at $140,993,000 after buying an additional 2,644,332 shares during the period. Finally, Invesco Ltd. raised its position in shares of Fifth Third Bancorp by 12.1% in the 4th quarter. Invesco Ltd. now owns 23,799,312 shares of the financial services provider’s stock valued at $1,114,046,000 after buying an additional 2,574,712 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.1%

Shares of Fifth Third Bancorp stock opened at $57.01 on Monday. The firm has a market capitalization of $51.70 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. 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 firm’s 50 day moving average is $55.55 and its 200 day moving average is $51.55. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. Fifth Third Bancorp’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.40 per share. 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 is 54.61%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Royal Bank Of Canada boosted their price objective 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. Evercore set a $60.00 target price on Fifth Third Bancorp in a research note on Monday, July 6th. Citigroup raised their target price on Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Argus upgraded Fifth Third Bancorp to a “strong-buy” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.54.

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.