Sei Investments Co. Has $86.99 Million Holdings in Fifth Third Bancorp $FITB

Sei Investments Co. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 89.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,872,450 shares of the financial services provider’s stock after acquiring an additional 885,990 shares during the quarter. Sei Investments Co.’s holdings in Fifth Third Bancorp were worth $86,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Center for Financial Planning Inc. bought a new stake in Fifth Third Bancorp during the 1st quarter valued at $25,000. SouthState Bank Corp lifted its stake in shares of Fifth Third Bancorp by 74.7% in the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after buying an additional 236 shares in the last quarter. Monetary Solutions Ltd bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $29,000. Leonteq Securities AG acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $30,000. Finally, Reflection Asset Management acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $30,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $57.41 on Friday. The company’s 50-day moving average is $53.97 and its 200 day moving average is $50.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $52.03 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm posted $0.88 EPS. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities research analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is currently 54.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FITB. Bank of America raised their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Argus raised Fifth Third Bancorp to a “strong-buy” rating in a report on Wednesday. Barclays increased their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Citigroup raised their target price on Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday. Finally, Truist Financial lifted their target price on Fifth Third Bancorp from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.49.

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.