First Trust Advisors LP Has $402.99 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

First Trust Advisors LP increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,531,485 shares of the financial services provider’s stock after buying an additional 1,027,044 shares during the period. First Trust Advisors LP owned 1.42% of Fifth Third Bancorp worth $402,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $28,000. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $33,000. Finally, Y.D. More Investments Ltd boosted its holdings in Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FITB. Piper Sandler reiterated an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Barclays increased their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.12.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $34.15 on Friday. The firm’s 50 day moving average is $39.16 and its 200 day moving average is $42.65. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market capitalization of $22.82 billion, a P/E ratio of 10.88, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period last year, the business earned $0.70 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.