BI Asset Management Fondsmaeglerselskab A S Purchases 19,588 Shares of Fifth Third Bancorp $FITB

BI Asset Management Fondsmaeglerselskab A S raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 64.3% during the 4th quarter, HoldingsChannel reports. The fund owned 50,070 shares of the financial services provider’s stock after buying an additional 19,588 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fifth Third Bancorp were worth $2,344,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bahl & Gaynor Inc. lifted its stake in Fifth Third Bancorp by 18.0% in the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock valued at $7,189,000 after acquiring an additional 24,566 shares in the last quarter. Nordea Investment Management AB lifted its stake in Fifth Third Bancorp by 3.2% in the 4th quarter. Nordea Investment Management AB now owns 1,276,429 shares of the financial services provider’s stock valued at $59,788,000 after acquiring an additional 39,261 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Fifth Third Bancorp by 26.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider’s stock valued at $72,169,000 after acquiring an additional 340,030 shares in the last quarter. Barclays PLC lifted its stake in Fifth Third Bancorp by 27.0% in the 3rd quarter. Barclays PLC now owns 3,947,246 shares of the financial services provider’s stock valued at $175,850,000 after acquiring an additional 840,094 shares in the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $8,529,000. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter L. Sefzik sold 20,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the sale, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Down 0.1%

FITB opened at $51.96 on Tuesday. Fifth Third Bancorp has a 1-year low of $37.86 and a 1-year high of $55.44. The stock’s fifty day simple moving average is $49.21 and its 200 day simple moving average is $48.60. 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 stock has a market cap of $47.09 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.06 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and set a $54.00 price objective (down from $57.00) on shares of Fifth Third Bancorp in a research note on Monday, March 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, May 4th. Weiss Ratings upgraded Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. 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, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus price target of $57.29.

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.