Candriam S.C.A. Buys 13,171 Shares of Fifth Third Bancorp $FITB

Candriam S.C.A. boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 14.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,982 shares of the financial services provider’s stock after purchasing an additional 13,171 shares during the quarter. Candriam S.C.A.’s holdings in Fifth Third Bancorp were worth $4,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FITB. Harbor Investment Advisory LLC increased its position in shares of Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares during the period. Monetary Solutions Ltd acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at $29,000. Leonteq Securities AG acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at $30,000. Reflection Asset Management purchased a new position in Fifth Third Bancorp in the fourth quarter valued at $30,000. Finally, EFG International AG purchased a new position in Fifth Third Bancorp in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were 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 in the company, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. The trade was a 9.55% 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FITB. Wolfe Research lowered their price target on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, May 4th. Jefferies Financial Group upped their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Stephens began coverage on Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 target price on the stock. Finally, Evercore set a $60.00 price objective on shares of Fifth Third Bancorp in a report on Monday, July 6th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus price target of $59.11.

Fifth Third Bancorp Stock Up 0.2%

FITB stock opened at $57.19 on Tuesday. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $58.51. The firm’s 50 day moving average price is $52.37 and its 200-day moving average price is $50.35. The firm has a market cap of $51.83 billion, a PE ratio of 19.19, a PEG ratio of 1.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.71 EPS. On average, equities research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

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

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.