Swiss Life Asset Management Ltd Boosts Holdings in Fifth Third Bancorp $FITB

Swiss Life Asset Management Ltd grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,234 shares of the financial services provider’s stock after buying an additional 17,024 shares during the period. Swiss Life Asset Management Ltd’s holdings in Fifth Third Bancorp were worth $4,645,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FITB. Westside Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after buying an additional 292 shares during the period. Harbor Investment Advisory LLC grew its stake 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 buying an additional 517 shares during the period. United Community Bank grew its stake in shares of Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after buying an additional 581 shares during the period. Quest 10 Wealth Builders Inc. grew its stake in shares of Fifth Third Bancorp by 619.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after buying an additional 632 shares during the period. Finally, Salomon & Ludwin LLC grew its stake in shares of Fifth Third Bancorp by 77.6% in the 4th quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock valued at $36,000 after buying an additional 322 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FITB. Wolfe Research dropped their price target 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. Janney Montgomery Scott increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. UBS Group reaffirmed a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Barclays increased their price objective on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Evercore increased their price objective on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.19.

Insider Buying and Selling

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

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $47.15 on Thursday. 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 stock has a market capitalization of $42.73 billion, a P/E ratio of 15.82, a PEG ratio of 0.99 and a beta of 0.94. The company has a 50 day moving average price of $47.85 and a 200 day moving average price of $47.68. Fifth Third Bancorp has a fifty-two week low of $36.64 and a fifty-two week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio is 53.69%.

Fifth Third Bancorp 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.