Fifth Third Bancorp $FITB Shares Bought by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 616.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,921 shares of the financial services provider’s stock after purchasing an additional 11,117 shares during the period. Ameritas Advisory Services LLC’s holdings in Fifth Third Bancorp were worth $605,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of FITB. Vanguard Group Inc. lifted its holdings in Fifth Third Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock worth $3,929,647,000 after acquiring an additional 637,207 shares during the last quarter. Capital World Investors increased its stake in shares of Fifth Third Bancorp by 6.2% during the third quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock valued at $1,373,490,000 after acquiring an additional 1,803,861 shares during the period. Invesco Ltd. increased its stake in shares of Fifth Third Bancorp by 2.6% during the third quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock valued at $945,556,000 after acquiring an additional 546,914 shares during the period. Bank of America Corp DE increased its stake in shares of Fifth Third Bancorp by 16.7% during the third quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock valued at $714,457,000 after acquiring an additional 2,293,939 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Fifth Third Bancorp by 9.5% during the third quarter. Franklin Resources Inc. now owns 7,931,624 shares of the financial services provider’s stock valued at $353,354,000 after acquiring an additional 690,648 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.7%

FITB stock opened at $47.35 on Friday. The firm has a market cap of $42.91 billion, a PE ratio of 15.89, a PEG ratio of 0.97 and a beta of 0.94. Fifth Third Bancorp has a 1 year low of $36.64 and a 1 year high of $55.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $47.77 and a 200 day simple moving average of $47.71.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.87. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter last year, the firm posted $0.71 EPS. Sell-side analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 53.69%.

Insider Activity

In other news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial set a $57.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group lifted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Fifth Third Bancorp in a research note on Monday, May 4th. Finally, Evercore lifted their target price on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research note on Tuesday, April 21st. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.19.

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.