Fifth Third Bancorp (NASDAQ:FITB) Short Interest Down 31.3% in February

Fifth Third Bancorp (NASDAQ:FITB) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 43,978,782 shares, a decrease of 31.3% from the January 29th total of 64,058,489 shares. Based on an average daily trading volume, of 14,362,776 shares, the days-to-cover ratio is currently 3.1 days. Currently, 6.7% of the shares of the stock are sold short. Currently, 6.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,362,776 shares, the days-to-cover ratio is currently 3.1 days.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $2.50 during trading on Friday, hitting $49.47. The company had a trading volume of 16,709,994 shares, compared to its average volume of 16,176,608. 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 firm has a market capitalization of $32.70 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $55.44. The stock’s 50-day moving average price is $50.59 and its 200 day moving average price is $46.34.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The business had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. Equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of Fifth Third Bancorp by 7.1% in the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 916 shares during the period. Woodline Partners LP lifted its holdings in 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 valued at $2,218,000 after buying an additional 16,323 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Fifth Third Bancorp by 3.5% during the second quarter. Teacher Retirement System of Texas now owns 101,521 shares of the financial services provider’s stock worth $4,176,000 after acquiring an additional 3,433 shares during the period. Arkadios Wealth Advisors grew its stake in Fifth Third Bancorp by 12.9% in the second quarter. Arkadios Wealth Advisors now owns 9,505 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Fifth Third Bancorp by 62.9% in the 2nd quarter. Assetmark Inc. now owns 22,380 shares of the financial services provider’s stock worth $920,000 after buying an additional 8,638 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Citigroup increased their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Argus upped their price objective on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada increased their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.56.

Fifth Third Bancorp Company 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.