13,415 Shares in Fifth Third Bancorp $FITB Acquired by Headlands Technologies LLC

Headlands Technologies LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 13,415 shares of the financial services provider’s stock, valued at approximately $756,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Price T Rowe Associates Inc. MD lifted its stake in shares of Fifth Third Bancorp by 41.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after purchasing an additional 10,444,799 shares during the last quarter. Capital World Investors increased its position in shares of Fifth Third Bancorp by 5.6% during the 4th quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider’s stock worth $1,523,650,000 after purchasing an additional 1,719,361 shares during the last quarter. State Street Corp raised its holdings in Fifth Third Bancorp by 0.3% in the 4th quarter. State Street Corp now owns 31,437,600 shares of the financial services provider’s stock valued at $1,484,021,000 after buying an additional 101,245 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider’s stock valued at $1,120,586,000 after buying an additional 530,489 shares during the period. Finally, Invesco Ltd. lifted its position in Fifth Third Bancorp by 12.1% in the fourth quarter. Invesco Ltd. now owns 23,799,312 shares of the financial services provider’s stock valued at $1,114,046,000 after buying an additional 2,574,712 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $53.01 on Wednesday. The company has a market cap of $48.07 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average of $56.71 and a two-hundred day moving average of $51.98. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. As a group, analysts anticipate 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, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is presently 54.61%.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Royal Bank Of Canada boosted their price target on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods upped their price objective on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Evercore set a $60.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, July 6th. Finally, Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.54.

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.