Sumitomo Mitsui Trust Group Inc. Has $68.21 Million Stock Position in Fifth Third Bancorp $FITB

Sumitomo Mitsui Trust Group Inc. raised its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,531,042 shares of the financial services provider’s stock after buying an additional 10,685 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Fifth Third Bancorp worth $68,208,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FITB. Norges Bank bought a new stake in Fifth Third Bancorp in the 2nd quarter valued at $357,440,000. Invesco Ltd. raised its stake in shares of Fifth Third Bancorp by 16.6% in the 2nd quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock valued at $850,473,000 after purchasing an additional 2,941,333 shares during the period. Vanguard Group Inc. raised its stake in shares of Fifth Third Bancorp by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock valued at $3,448,743,000 after purchasing an additional 1,301,624 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Fifth Third Bancorp during the second quarter worth about $52,643,000. Finally, Franklin Resources Inc. grew its holdings in shares of Fifth Third Bancorp by 20.7% during the second quarter. Franklin Resources Inc. now owns 7,240,976 shares of the financial services provider’s stock worth $297,821,000 after buying an additional 1,240,709 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore ISI set a $52.00 target price on Fifth Third Bancorp in a research note on Tuesday, January 6th. Jefferies Financial Group lifted their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th. Piper Sandler raised their target price on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Finally, Citigroup lifted their price target on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Check Out Our Latest Stock Report on Fifth Third Bancorp

Key Fifth Third Bancorp News

Here are the key news stories impacting Fifth Third Bancorp this week:

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Bayh purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was acquired at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the purchase, the director owned 84,942 shares in the company, valued at $3,501,309.24. This trade represents a 3.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.53% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $48.57 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $45.79 and its 200 day simple moving average is $44.25. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $50.47. The company has a market cap of $32.11 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.85 and a beta of 0.97.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. On average, research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.76%.

Fifth Third Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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