Generali Asset Management SPA SGR Buys Shares of 29,499 Fifth Third Bancorp $FITB

Generali Asset Management SPA SGR purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, Holdings Channel.com reports. The fund purchased 29,499 shares of the financial services provider’s stock, valued at approximately $1,314,000.

Several other institutional investors have also recently made changes to their positions in the company. Evolution Wealth Management Inc. purchased a new position in Fifth Third Bancorp in the second quarter worth approximately $26,000. Activest Wealth Management lifted its stake in shares of Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 626 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Fifth Third Bancorp during the 1st quarter worth $27,000. GoalVest Advisory LLC increased its position in shares of Fifth Third Bancorp by 246.3% during the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FITB. Evercore ISI lowered their target price on shares of Fifth Third Bancorp from $49.00 to $47.00 in a research note on Thursday, October 30th. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $60.00 target price on Fifth Third Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $52.15.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the sale, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Evan Bayh purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average price of $41.22 per share, with a total value of $123,660.00. Following the purchase, the director directly owned 84,942 shares of the company’s stock, valued at $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $47.71 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $48.71. The firm has a market cap of $31.54 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The company’s 50 day moving average is $44.67 and its two-hundred day moving average is $43.79.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The business had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. On average, research analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.60 annualized dividend and a yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio is 47.76%.

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.