Guggenheim Capital LLC raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,013,760 shares of the financial services provider’s stock after purchasing an additional 61,144 shares during the quarter. Guggenheim Capital LLC owned about 0.29% of Fifth Third Bancorp worth $61,098,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $1,292,000. Brandywine Global Investment Management LLC boosted its holdings in shares of Fifth Third Bancorp by 1.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 947,463 shares of the financial services provider’s stock valued at $28,747,000 after purchasing an additional 13,250 shares during the last quarter. Jefferies Group LLC boosted its holdings in shares of Fifth Third Bancorp by 179.5% in the 4th quarter. Jefferies Group LLC now owns 89,652 shares of the financial services provider’s stock valued at $2,720,000 after purchasing an additional 202,452 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Fifth Third Bancorp by 19.4% in the 4th quarter. Advisor Group Inc. now owns 43,689 shares of the financial services provider’s stock valued at $1,325,000 after purchasing an additional 7,100 shares during the last quarter. Finally, Dynamic Capital Management Ltd acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $900,000. Institutional investors own 83.82% of the company’s stock.
A number of brokerages have recently commented on FITB. BidaskClub downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $35.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a research note on Thursday, December 7th. BMO Capital Markets reissued a “hold” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Finally, Bank of America raised their target price on shares of Fifth Third Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $30.70.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $34.06 on Wednesday. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $34.57. The stock has a market cap of $23,536.00, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.89 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. analysts expect that Fifth Third Bancorp will post 2.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, March 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 22.46%.
Fifth Third Bancorp announced that its board has authorized a stock buyback program on Tuesday, February 27th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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