Investors Buy Shares of Fifth Third Bancorp (FITB) on Weakness
Traders bought shares of Fifth Third Bancorp (NASDAQ:FITB) on weakness during trading hours on Thursday. $484.63 million flowed into the stock on the tick-up and $56.71 million flowed out of the stock on the tick-down, for a money net flow of $427.92 million into the stock. Of all companies tracked, Fifth Third Bancorp had the highest net in-flow for the day. Fifth Third Bancorp traded down ($0.98) for the day and closed at $25.48
A number of equities research analysts have recently commented on FITB shares. Citigroup raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $37.00 to $29.00 in a research report on Wednesday, January 9th. BidaskClub downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. Barclays lowered their price objective on Fifth Third Bancorp from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $31.27.
The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.97. The stock has a market cap of $18.04 billion, a PE ratio of 10.03, a PEG ratio of 1.30 and a beta of 1.33.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, March 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 34.65%.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the sale, the executive vice president now owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. SRS Capital Advisors Inc. boosted its position in shares of Fifth Third Bancorp by 82.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock worth $25,000 after buying an additional 487 shares during the period. JOYN Advisors Inc. boosted its position in shares of Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock worth $41,000 after buying an additional 480 shares during the period. Executive Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $69,000. Lindbrook Capital LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $75,000. Finally, Kinneret Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $80,000. 82.48% of the stock is owned by hedge funds and other institutional investors.
About Fifth Third Bancorp (NASDAQ:FITB)
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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