Haverford Trust Co Invests $1.89 Million in Fifth Third Bancorp $FITB

Haverford Trust Co bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 33,540 shares of the financial services provider’s stock, valued at approximately $1,891,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Center for Financial Planning Inc. acquired a new position in Fifth Third Bancorp during the first quarter worth approximately $25,000. SouthState Bank Corp boosted its holdings in shares of Fifth Third Bancorp by 74.7% in the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Monetary Solutions Ltd purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $29,000. Clearstead Trust LLC purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $29,000. Finally, Leonteq Securities AG acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $30,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.5%

Shares of NASDAQ FITB opened at $54.76 on Friday. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $59.50. The company has a market cap of $49.66 billion, a P/E ratio of 18.38, a P/E/G 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 stock has a fifty day moving average price of $56.54 and a 200 day moving average price of $51.97.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 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 firm earned $0.88 EPS. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. Research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 2.9%. Fifth Third Bancorp’s payout ratio is 54.61%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FITB shares. Citigroup increased their target price on Fifth Third Bancorp from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Argus raised Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. UBS Group upped their price target on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $58.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.