Heartland Bank & Trust Co Invests $1.41 Million in Fifth Third Bancorp $FITB

Heartland Bank & Trust Co acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,059 shares of the financial services provider’s stock, valued at approximately $1,413,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Burnham & Co LLC acquired a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $564,000. Callan Family Office LLC acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $5,847,000. Keating Financial Advisory Services Inc. bought a new position in shares of Fifth Third Bancorp in the second quarter valued at approximately $63,000. Patron Partners LLC bought a new position in shares of Fifth Third Bancorp in the second quarter valued at approximately $1,087,000. Finally, Allworth Financial LP acquired a new stake in shares of Fifth Third Bancorp in the second quarter worth $1,852,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 0.5%

Shares of Fifth Third Bancorp stock opened at $54.76 on Friday. The company’s fifty day simple moving average is $56.54 and its 200-day simple moving average is $51.97. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.09 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50.

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

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. Fifth Third Bancorp’s payout ratio is presently 54.61%.

Analysts Set New Price Targets

FITB has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $58.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. UBS Group upped their price target on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Citigroup raised their price target on Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Fifth Third Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.54.

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.