Corient Private Wealth LLC Acquires 15,204 Shares of Fifth Third Bancorp $FITB

Corient Private Wealth LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,238 shares of the financial services provider’s stock after purchasing an additional 15,204 shares during the period. Corient Private Wealth LLC’s holdings in Fifth Third Bancorp were worth $10,358,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Harbor Investment Advisory LLC raised its stake in Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares during the last quarter. Monetary Solutions Ltd purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $29,000. Leonteq Securities AG purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $30,000. Reflection Asset Management bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $30,000. Finally, EFG International AG bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 0.8%

NASDAQ:FITB opened at $55.10 on Thursday. The company has a market cap of $49.94 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. 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 50 day simple moving average of $50.63 and a two-hundred day simple moving average of $49.46. Fifth Third Bancorp has a 12 month low of $40.04 and a 12 month high of $55.44.

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

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 53.69%.

Insider Activity

In other news, EVP Peter L. Sefzik sold 20,000 shares of the company’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 completion of the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the 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 completion of the transaction, the executive vice president owned 76,299 shares in the company, valued at $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. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. Truist Financial upped their price target on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research decreased their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. 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 Wednesday, April 8th. The Goldman Sachs Group increased their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, DA Davidson reissued a “buy” rating and set a $58.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 20th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.74.

About Fifth Third Bancorp

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.