Stephens Inc. AR Invests $649,000 in Fifth Third Bancorp $FITB

Stephens Inc. AR purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,875 shares of the financial services provider’s stock, valued at approximately $649,000.

Several other large investors also recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. boosted its stake in Fifth Third Bancorp by 3.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after buying an additional 206 shares during the period. Keybank National Association OH boosted its stake in Fifth Third Bancorp by 0.3% during the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock valued at $3,015,000 after buying an additional 214 shares during the period. Austin Private Wealth LLC boosted its stake in Fifth Third Bancorp by 2.7% during the fourth quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock valued at $407,000 after buying an additional 228 shares during the period. Wealthquest Corp boosted its stake in Fifth Third Bancorp by 2.3% during the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after buying an additional 244 shares during the period. Finally, Capital Investment Advisory Services LLC boosted its stake in Fifth Third Bancorp by 1.1% during the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 251 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.6%

Shares of NASDAQ:FITB opened at $49.16 on Friday. Fifth Third Bancorp has a 1 year low of $36.64 and a 1 year high of $55.44. The company has a market cap of $44.55 billion, a PE ratio of 16.50, a P/E/G ratio of 1.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day moving average is $47.85 and its 200 day moving average is $47.93.

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

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is currently 53.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FITB. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Evercore lifted their price objective on Fifth Third Bancorp from $51.00 to $53.00 in a research note on Tuesday, April 21st. Wolfe Research dropped their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Argus lifted their price objective on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Finally, Truist Financial set a $57.00 price objective on Fifth Third Bancorp 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.19.

Insider Transactions at Fifth Third Bancorp

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

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.