2 weeks Ago By Defense World Staff
Covington Investment Advisors Inc. purchased a new stake in Fifth Third Bancorp ( NASDAQ:FITB – Free Report ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,142 shares of the financial services provider’s stock, valued at approximately $589,000.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Fifth Third Bancorp by 0.
8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after purchasing an additional 734,403 shares in the last quarter.
Capital World Investors lifted its stake in Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after acquiring an additional 5,512,333 shares in the last quarter.
Dimensional Fund Advisors LP boosted its holdings in Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after acquiring an additional 281,494 shares during the period.
LSV Asset Management boosted its holdings in Fifth Third Bancorp by 2.3% during the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock valued at $165,015,000 after acquiring an additional 99,593 shares during the period.
Finally, KBC Group NV grew its position in Fifth Third Bancorp by 341.8% in the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock valued at $66,521,000 after acquiring an additional 1,492,124 shares in the last quarter.
83.79% of the stock is currently owned by institutional investors and hedge funds. Wall Street Analyst Weigh In FITB has been the topic of several research reports.
Morgan Stanley increased their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th.
Argus raised their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd.
Stephens reaffirmed an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.
00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Finally, Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $42.00 to $43.
00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.
com, the company has a consensus rating of “Hold” and a consensus target price of $41.16. Fifth Third Bancorp Trading Up 0.
1 % Shares of Fifth Third Bancorp stock opened at $42.94 on Monday. The company has a fifty day simple moving average of $41.
41 and a 200-day simple moving average of $38.39. Fifth Third Bancorp has a 12-month low of $22.
49 and a 12-month high of $43.85. The company has a current ratio of 0.
81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.
The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 2.
03 and a beta of 1.22. Fifth Third Bancorp ( NASDAQ:FITB – Get Free Report ) last issued its quarterly earnings data on Friday, July 19th.
The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.
04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.
41%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.
11 billion. During the same period in the previous year, the business posted $0.87 EPS.
On average, equities analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year. Fifth Third Bancorp Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th.
Shareholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 30th.
This represents a $1.48 dividend on an annualized basis and a yield of 3.45%.
This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is currently 46.
98%. Insider Activity In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th.
The shares were sold at an average price of $41.77, for a total value of $835,400.00.
Following the completion of the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website .
In related news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.
77, for a total value of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.
99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Also, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 16th.
The stock was sold at an average price of $40.00, for a total value of $100,000.00.
Following the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here . Over the last ninety days, insiders sold 54,500 shares of company stock valued at $2,269,920.
0.50% of the stock is currently owned by company insiders. Fifth Third Bancorp Company Profile ( Free Report ) Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.
It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. Recommended Stories Five stocks we like better than Fifth Third Bancorp Stock Splits, Do They Really Impact Investors? Simon Property REIT: A Safe Bet for Growth and Steady Dividends Consumer Staples Stocks, Explained CarMax’s Impressive Rally: What Investors Should Watch Next 3 Natural Gas Stocks That Offer Great Dividend Yields MarketBeat Week in Review – 9/23 – 9/27 Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter .
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