D.A. Davidson & CO. Has $2.36 Million Stock Position in Fifth Third Bancorp $FITB

D.A. Davidson & CO. lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 69.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 50,783 shares of the financial services provider’s stock after buying an additional 20,862 shares during the quarter. D.A. Davidson & CO.’s holdings in Fifth Third Bancorp were worth $2,359,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Fifth Third Bancorp by 303.4% in the 1st quarter. Bank of New York Mellon Corp now owns 20,079,733 shares of the financial services provider’s stock valued at $932,904,000 after acquiring an additional 15,101,629 shares in the last quarter. Norges Bank purchased a new position in Fifth Third Bancorp during the 4th quarter worth approximately $649,264,000. Price T Rowe Associates Inc. MD raised its stake in Fifth Third Bancorp by 41.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after purchasing an additional 10,444,799 shares during the period. Clearbridge Investments LLC raised its stake in Fifth Third Bancorp by 719.2% during the 4th quarter. Clearbridge Investments LLC now owns 3,012,022 shares of the financial services provider’s stock valued at $140,993,000 after purchasing an additional 2,644,332 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Fifth Third Bancorp by 12.1% in the fourth quarter. Invesco Ltd. now owns 23,799,312 shares of the financial services provider’s stock valued at $1,114,046,000 after purchasing an additional 2,574,712 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

More Fifth Third Bancorp News

Here are the key news stories impacting Fifth Third Bancorp this week:

• Positive Sentiment: Bank of America raised its price target to $65 and kept a buy rating, signaling meaningful upside from current levels. Article Title
• Positive Sentiment: DA Davidson also lifted its target to $65 and reiterated a buy rating after Fifth Third’s strong quarter. Article Title
• Positive Sentiment: RBC raised its target to $62 with an outperform rating, adding to the bullish analyst sentiment around FITB. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods increased its target to $60, signaling still-positive expectations even with a more neutral stance. Article Title
• Positive Sentiment: Fifth Third reported Q2 EPS of $1.02, ahead of the $0.95 consensus, with revenue also beating estimates, reinforcing the bank’s fundamental strength. Article Title
• Positive Sentiment: Fifth Third won Euromoney’s Best Bank Award in the United States, which may support its reputation and brand strength. Article Title
• Neutral Sentiment: Industry commentary on banks using fintech and embedded finance for deposits suggests a broader opportunity set, but it is not a direct company-specific catalyst. Article Title
• Neutral Sentiment: One article framed Comerica as a growth catalyst for Fifth Third, but the impact appears more strategic than immediately measurable. Article Title
• Neutral Sentiment: Unusually high options trading was noted, which can signal heightened investor attention but does not by itself explain the move. Article Title
• Positive Sentiment: A Zacks article highlighted Fifth Third as a strong dividend stock, which may appeal to income-focused investors. Article Title

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FITB shares. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Truist Financial upped their price target on Fifth Third Bancorp from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on Fifth Third Bancorp from $54.50 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Morgan Stanley raised their price objective on Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada lifted their target price on Fifth Third Bancorp from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $60.20.

Fifth Third Bancorp Trading Down 0.9%

Shares of NASDAQ:FITB opened at $57.47 on Tuesday. The firm has a fifty day moving average of $53.19 and a two-hundred day moving average of $50.70. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $59.50. The firm has a market capitalization of $52.09 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the company posted $0.88 earnings per share. On average, equities analysts expect 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, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.40 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. Fifth Third Bancorp’s payout ratio is 54.61%.

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.