Fifth Third Bancorp $FITB Shares Acquired by Keybank National Association OH

Keybank National Association OH raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 11.7% during the third quarter, Holdings Channel reports. The fund owned 94,206 shares of the financial services provider’s stock after buying an additional 9,893 shares during the period. Keybank National Association OH’s holdings in Fifth Third Bancorp were worth $4,765,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Security National Bank of SO Dak bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth approximately $25,000. Essential Investment Partners LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at $25,000. Clearstead Trust LLC purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at $29,000. SouthState Bank Corp grew its holdings in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Finally, Avalon Trust Co bought a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at $40,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Jefferies Financial Group cut their price target on shares of Fifth Third Bancorp from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Argus raised Fifth Third Bancorp to a “strong-buy” rating in a research note on Wednesday, July 22nd. TD Cowen assumed coverage on Fifth Third Bancorp in a research note on Thursday, October 8th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.87.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $53.14, for a total value of $1,062,800.00. Following the completion of the sale, the executive vice president owned 121,460 shares of the company’s stock, valued at $6,454,384.40. This trade represents a 14.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Trading Down 0.7%

FITB opened at $53.99 on Friday. Fifth Third Bancorp has a one year low of $40.68 and a one year high of $59.50. 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 business has a 50 day simple moving average of $52.68 and a two-hundred day simple moving average of $52.21. The firm has a market capitalization of $48.79 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.09 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Monday, October 19th. The financial services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.34 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Analysts predict that Fifth Third Bancorp will post 4.10 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.42 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 57.53%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Fifth Third Bank, it provides consumer and commercial banking, lending, payment processing, and wealth and asset management services. The company traces its roots to 1858 and took the Fifth Third name following the 1908 merger of Fifth National Bank and Third National Bank. Its banking operations serve individuals, businesses, and communities across parts of the Midwest and Southeast, including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.