Fidelis Capital Partners LLC Takes Position in Fifth Third Bancorp $FITB

Fidelis Capital Partners LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,772 shares of the financial services provider’s stock, valued at approximately $614,000.

A number of other institutional investors have also added to or reduced their stakes in FITB. Generali Asset Management SPA SGR purchased a new stake in Fifth Third Bancorp in the third quarter worth about $1,314,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Fifth Third Bancorp by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,160,367 shares of the financial services provider’s stock valued at $346,326,000 after purchasing an additional 654,746 shares during the last quarter. Huntington National Bank boosted its position in shares of Fifth Third Bancorp by 10.9% in the 2nd quarter. Huntington National Bank now owns 121,225 shares of the financial services provider’s stock worth $4,986,000 after purchasing an additional 11,935 shares in the last quarter. Intact Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 24.5% in the 3rd quarter. Intact Investment Management Inc. now owns 119,400 shares of the financial services provider’s stock worth $5,319,000 after buying an additional 23,500 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Fifth Third Bancorp by 103.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,354,288 shares of the financial services provider’s stock valued at $56,095,000 after buying an additional 687,275 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president owned 129,191 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 0.2%

FITB opened at $49.79 on Friday. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.00 and a beta of 0.97. The firm has a 50 day moving average price of $47.54 and a 200-day moving average price of $44.78. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $53.33. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The company had revenue of $3.82 billion for the quarter. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FITB shares. Morgan Stanley set a $60.00 target price on Fifth Third Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 7th. UBS Group upgraded shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Tuesday, January 6th. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. TD Cowen reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a report on Wednesday, January 7th. Finally, Jefferies Financial Group upped their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.21.

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.