AustralianSuper Pty Ltd Has $5.10 Million Holdings in Fifth Third Bancorp $FITB

AustralianSuper Pty Ltd decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 35.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,507 shares of the financial services provider’s stock after selling 63,328 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Fifth Third Bancorp were worth $5,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Fifth Third Bancorp by 2.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 705,362 shares of the financial services provider’s stock worth $31,424,000 after purchasing an additional 19,861 shares during the period. Ballentine Partners LLC boosted its position in shares of Fifth Third Bancorp by 2.7% during the 3rd quarter. Ballentine Partners LLC now owns 24,164 shares of the financial services provider’s stock worth $1,077,000 after purchasing an additional 641 shares in the last quarter. Truist Financial Corp grew its stake in shares of Fifth Third Bancorp by 2.2% in the 3rd quarter. Truist Financial Corp now owns 300,760 shares of the financial services provider’s stock valued at $13,399,000 after buying an additional 6,395 shares during the period. Stablepoint Partners LLC increased its position in Fifth Third Bancorp by 2.0% in the 3rd quarter. Stablepoint Partners LLC now owns 108,937 shares of the financial services provider’s stock valued at $4,853,000 after buying an additional 2,122 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD raised its stake in Fifth Third Bancorp by 13.3% during the 3rd quarter. Clark Financial Services Group Inc. BD now owns 6,843 shares of the financial services provider’s stock worth $305,000 after buying an additional 803 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on FITB shares. Robert W. Baird raised their price objective on Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. Truist Financial lifted their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Stephens boosted their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $56.21.

Fifth Third Bancorp Price Performance

FITB opened at $49.79 on Friday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $53.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $32.91 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.00 and a beta of 0.97. The firm’s fifty day moving average price is $47.54 and its two-hundred day moving average price is $44.78.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The company had revenue of $3.82 billion during the quarter. As a group, analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 45.20%.

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.