Rockefeller Capital Management L.P. Raises Stock Position in Fifth Third Bancorp $FITB

Rockefeller Capital Management L.P. lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,751,834 shares of the financial services provider’s stock after acquiring an additional 597,546 shares during the period. Rockefeller Capital Management L.P. owned 0.19% of Fifth Third Bancorp worth $82,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Bahl & Gaynor Inc. increased its holdings in Fifth Third Bancorp by 18.0% in the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock valued at $7,189,000 after acquiring an additional 24,566 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Fifth Third Bancorp by 3.2% during the 4th quarter. Nordea Investment Management AB now owns 1,276,429 shares of the financial services provider’s stock valued at $59,788,000 after purchasing an additional 39,261 shares during the last quarter. Robinhood Asset Management LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $8,529,000. Westfield Capital Management Co. LP grew its position in shares of Fifth Third Bancorp by 26.6% during the third quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider’s stock valued at $72,169,000 after purchasing an additional 340,030 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Fifth Third Bancorp by 27.0% in the third quarter. Barclays PLC now owns 3,947,246 shares of the financial services provider’s stock worth $175,850,000 after purchasing an additional 840,094 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FITB. Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Fifth Third Bancorp in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Robert W. Baird raised their target price on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, Jefferies Financial Group boosted their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $57.34.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter L. Sefzik sold 20,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Trading Up 0.1%

Shares of NASDAQ FITB opened at $52.82 on Friday. Fifth Third Bancorp has a 1-year low of $38.91 and a 1-year high of $55.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50 day moving average is $50.35 and its two-hundred day moving average is $49.22. The stock has a market capitalization of $47.87 billion, a P/E ratio of 17.72, a PEG ratio of 1.09 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same period last year, the company earned $0.71 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

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.