Elo Mutual Pension Insurance Co boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 51,397 shares of the financial services provider’s stock after purchasing an additional 759 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fifth Third Bancorp were worth $1,925,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vantage Consulting Group Inc acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $27,000. Childress Capital Advisors LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at about $29,000. Certified Advisory Corp purchased a new position in Fifth Third Bancorp in the 1st quarter valued at about $29,000. Crescent Capital Consulting LLC purchased a new position in Fifth Third Bancorp in the 1st quarter valued at about $30,000. Finally, Piscataqua Savings Bank purchased a new position in Fifth Third Bancorp in the 1st quarter valued at about $32,000. 79.02% of the stock is currently owned by institutional investors.
In related news, EVP Howard Hammond sold 1,732 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $41.29, for a total value of $71,514.28. Following the completion of the sale, the executive vice president now directly owns 51,592 shares of the company’s stock, valued at $2,130,233.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mitchell Feiger sold 104,044 shares of the business’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $40.82, for a total transaction of $4,247,076.08. Over the last ninety days, insiders have sold 235,579 shares of company stock valued at $9,324,580. Corporate insiders own 0.66% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Monday, April 19th. The financial services provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.24. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fifth Third Bancorp had a net margin of 25.12% and a return on equity of 10.84%. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 3.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.08 annualized dividend and a dividend yield of 2.67%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 50.00%.
A number of research analysts recently weighed in on FITB shares. JPMorgan Chase & Co. raised their price target on shares of Fifth Third Bancorp from $38.50 to $42.00 and gave the company a “neutral” rating in a research note on Monday, May 3rd. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $28.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 1st. The Goldman Sachs Group raised shares of Fifth Third Bancorp from a “buy” rating to a “conviction-buy” rating in a research note on Friday, March 5th. Barclays lifted their price target on shares of Fifth Third Bancorp from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Fifth Third Bancorp from $30.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, April 1st. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Fifth Third Bancorp has a consensus rating of “Buy” and an average target price of $37.39.
Fifth Third Bancorp Profile
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2021, the Company had $207 billion in assets and operates 1,098 full-service Banking Centers, and 2,383 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina.
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