Fifth Third Bancorp $FITB Shares Acquired by North Star Investment Management Corp.

North Star Investment Management Corp. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 65.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,895 shares of the financial services provider’s stock after purchasing an additional 75,103 shares during the quarter. North Star Investment Management Corp.’s holdings in Fifth Third Bancorp were worth $8,823,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its position in Fifth Third Bancorp by 501.9% during the fourth 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. Monetary Solutions Ltd acquired a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. Leonteq Securities AG acquired a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $30,000. Reflection Asset Management purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $30,000. Finally, EFG International AG purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FITB. JPMorgan Chase & Co. lifted their price target on Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group raised their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Truist Financial boosted their price objective 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. Morgan Stanley reduced their target price on Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Barclays lifted their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.74.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp 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 value of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction 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 directly owned 76,299 shares in the company, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Trading Up 0.3%

FITB stock opened at $56.47 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $56.77. The stock has a market cap of $51.18 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.09 and a beta of 0.92. The business’s 50-day moving average is $50.90 and its 200 day moving average is $49.62.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $0.71 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.40 dividend. 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 is currently 53.69%.

Fifth Third Bancorp Company 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.