Hsbc Holdings PLC Buys 199,924 Shares of Fifth Third Bancorp $FITB

Hsbc Holdings PLC lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,328,951 shares of the financial services provider’s stock after buying an additional 199,924 shares during the period. Hsbc Holdings PLC owned approximately 0.35% of Fifth Third Bancorp worth $109,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FITB. Bahl & Gaynor Inc. increased its stake in shares of Fifth Third Bancorp by 18.0% in the third quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock worth $7,189,000 after buying an additional 24,566 shares during the period. Nordea Investment Management AB boosted its position in Fifth Third Bancorp by 3.2% during 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 buying an additional 39,261 shares during the period. Robinhood Asset Management LLC bought a new stake in Fifth Third Bancorp in the 4th quarter worth $8,529,000. Westfield Capital Management Co. LP grew its holdings 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 worth $72,169,000 after acquiring an additional 340,030 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Fifth Third Bancorp by 9.5% in the third quarter. Franklin Resources Inc. now owns 7,931,624 shares of the financial services provider’s stock valued at $353,354,000 after acquiring an additional 690,648 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

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

Fifth Third Bancorp Price Performance

FITB stock opened at $52.82 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50 day moving average price of $50.35 and a 200-day moving average price of $49.26. Fifth Third Bancorp has a 52-week low of $38.91 and a 52-week high of $55.44. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.09 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, topping the consensus estimate 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 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 prior year, the business posted $0.71 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wolfe Research lowered their price objective on shares of 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. Evercore boosted their price target on Fifth Third Bancorp from $51.00 to $53.00 in a report on Tuesday, April 21st. Truist Financial set a $57.00 price objective on Fifth Third Bancorp in a report on Tuesday, April 21st. Stephens initiated coverage on Fifth Third Bancorp in a report on Monday, June 15th. They issued an “equal weight” rating and a $58.00 price objective for the company. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.34.

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.