Midwest Trust Co Has $12.74 Million Stock Holdings in Fifth Third Bancorp $FITB

Midwest Trust Co raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,050 shares of the financial services provider’s stock after buying an additional 16,296 shares during the period. Midwest Trust Co’s holdings in Fifth Third Bancorp were worth $12,744,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC increased its holdings in Fifth Third Bancorp by 4.7% in the third quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider’s stock valued at $15,503,000 after purchasing an additional 15,627 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Fifth Third Bancorp by 2.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider’s stock valued at $90,131,000 after buying an additional 48,080 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $1,314,000. Huntington National Bank increased its stake in shares of Fifth Third Bancorp by 10.9% in the second quarter. Huntington National Bank now owns 121,225 shares of the financial services provider’s stock valued at $4,986,000 after buying an additional 11,935 shares during the period. Finally, Intact Investment Management Inc. raised its position in shares of Fifth Third Bancorp by 24.5% during the third quarter. Intact Investment Management Inc. now owns 119,400 shares of the financial services provider’s stock worth $5,319,000 after acquiring an additional 23,500 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on FITB shares. Argus upped their target price on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Stephens boosted their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Robert W. Baird increased their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Citigroup boosted their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Finally, Janney Montgomery Scott increased their price target on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.58.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $54.50 on Wednesday. The company has a market cap of $36.03 billion, a P/E ratio of 15.40, a PEG ratio of 1.10 and a beta of 0.99. The company has a fifty day simple moving average of $49.16 and a 200 day simple moving average of $45.40. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.36. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly 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 return on equity of 13.53% and a net margin of 19.50%.The business had revenue of $3.82 billion during the quarter. Sell-side analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 45.20%.

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.