Massachusetts Financial Services Co. MA Has $134.24 Million Position in Fifth Third Bancorp $FITB

Massachusetts Financial Services Co. MA decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,013,190 shares of the financial services provider’s stock after selling 37,999 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Fifth Third Bancorp were worth $134,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FITB. Evolution Wealth Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $26,000. Activest Wealth Management raised its holdings in Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 626 shares during the period. GoalVest Advisory LLC lifted its position in Fifth Third Bancorp by 246.3% during the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 532 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the second quarter worth approximately $32,000. Finally, BankPlus Trust Department grew its position in shares of Fifth Third Bancorp by 53.0% in the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 290 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $50.12 on Wednesday. The company has a market cap of $33.13 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.86 and a beta of 0.97. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $50.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average price of $46.31 and a 200-day moving average price of $44.45.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.Fifth Third Bancorp’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

FITB has been the subject of several research reports. Cowen reissued a “buy” rating on shares of Fifth Third Bancorp in a report on Wednesday, January 7th. Piper Sandler increased their price objective on Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Argus lifted their target price on Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Robert W. Baird raised their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Read Our Latest Stock Report on FITB

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Fifth Third Bancorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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