Fifth Third Bancorp $FITB Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 49.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,180 shares of the financial services provider’s stock after purchasing an additional 9,052 shares during the period. Assenagon Asset Management S.A.’s holdings in Fifth Third Bancorp were worth $1,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbor Investment Advisory LLC lifted its holdings in Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after buying an additional 517 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $29,000. Leonteq Securities AG bought a new stake in Fifth Third Bancorp during the 4th quarter valued at $30,000. Reflection Asset Management bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $30,000. Finally, EFG International AG acquired a new stake in Fifth Third Bancorp in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated 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 sale, the executive vice president owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Stock Up 2.3%

NASDAQ FITB opened at $57.65 on Thursday. The stock has a market cap of $52.25 billion, a PE ratio of 19.35, a PEG ratio of 1.09 and a beta of 0.92. 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 simple moving average of $51.30 and a 200 day simple moving average of $49.83. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $58.15.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) 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 firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the company posted $0.71 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Evercore boosted their target price on shares of Fifth Third Bancorp from $53.00 to $58.00 in a report on Wednesday, June 24th. Wolfe Research cut 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 research note on Wednesday, April 1st. DA Davidson restated a “buy” rating and set a $58.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 20th. Finally, Truist Financial increased 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. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $57.94.

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.