Fifth Third Bancorp $FITB Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 537,898 shares of the financial services provider’s stock after purchasing an additional 123,140 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Fifth Third Bancorp worth $23,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC grew its position in Fifth Third Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 916 shares during the period. Woodline Partners LP grew its holdings in shares of Fifth Third Bancorp by 40.5% during the 1st quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock worth $2,218,000 after purchasing an additional 16,323 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Fifth Third Bancorp by 16.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 8,786 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 1,269 shares during the period. Venture Visionary Partners LLC increased its position in Fifth Third Bancorp by 4.1% during the 2nd quarter. Venture Visionary Partners LLC now owns 96,207 shares of the financial services provider’s stock worth $3,957,000 after purchasing an additional 3,762 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in Fifth Third Bancorp by 2.3% in the second quarter. HB Wealth Management LLC now owns 74,215 shares of the financial services provider’s stock valued at $3,052,000 after buying an additional 1,655 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.5%

Shares of FITB opened at $50.49 on Tuesday. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $53.33. The stock has a 50-day moving average price of $47.02 and a 200 day moving average price of $44.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $33.38 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.02 and a beta of 0.97.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The company had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio is currently 45.20%.

Wall Street Analyst Weigh In

FITB has been the subject of several recent research reports. Evercore ISI set a $52.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, January 6th. Morgan Stanley set a $60.00 price target on Fifth Third Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 7th. Stephens raised their price objective on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. The Goldman Sachs Group upped their target price on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, TD Cowen reiterated a “buy” rating on shares of Fifth Third Bancorp in a report on Wednesday, January 7th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $56.21.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp 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.