Basswood Capital Management L.L.C. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 128.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,313 shares of the financial services provider’s stock after purchasing an additional 178,261 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Fifth Third Bancorp were worth $7,466,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Sanders Capital LLC increased its holdings in Fifth Third Bancorp by 59.6% in the 4th quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock worth $468,179,000 after acquiring an additional 6,653,168 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Fifth Third Bancorp by 2,225.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,689,396 shares in the last quarter. Schroder Investment Management Group increased its holdings in Fifth Third Bancorp by 30.9% in the 3rd quarter. Schroder Investment Management Group now owns 5,454,270 shares of the financial services provider’s stock worth $152,283,000 after acquiring an additional 1,287,708 shares in the last quarter. Nordea Investment Management AB increased its holdings in Fifth Third Bancorp by 49.4% in the 3rd quarter. Nordea Investment Management AB now owns 3,763,476 shares of the financial services provider’s stock worth $105,076,000 after acquiring an additional 1,243,646 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Fifth Third Bancorp by 79.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,652,552 shares of the financial services provider’s stock worth $74,060,000 after acquiring an additional 1,172,626 shares in the last quarter. 82.08% of the stock is owned by hedge funds and other institutional investors.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of Fifth Third Bancorp stock in a transaction on Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the sale, the executive vice president now owns 62,974 shares of the company’s stock, valued at approximately $1,660,624.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.40% of the company’s stock.
Shares of FITB opened at $28.32 on Friday. Fifth Third Bancorp has a 52-week low of $22.12 and a 52-week high of $34.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $18.07 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company posted $0.48 EPS. As a group, analysts forecast that Fifth Third Bancorp will post 2.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.88 annualized dividend and a yield of 3.11%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 34.65%.
FITB has been the subject of several recent analyst reports. BidaskClub raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Raymond James set a $30.00 price target on shares of Fifth Third Bancorp and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, March 12th. Bank of America set a $29.00 price target on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a report on Wednesday, January 23rd. Finally, Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.27.
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Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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