MUFG Securities EMEA plc Buys 14,496 Shares of Fifth Third Bancorp $FITB

MUFG Securities EMEA plc boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 114.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,165 shares of the financial services provider’s stock after purchasing an additional 14,496 shares during the quarter. MUFG Securities EMEA plc’s holdings in Fifth Third Bancorp were worth $1,272,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Forsta AP Fonden grew its position in Fifth Third Bancorp by 5.6% in the 4th quarter. Forsta AP Fonden now owns 151,200 shares of the financial services provider’s stock valued at $7,078,000 after purchasing an additional 8,000 shares during the period. Norges Bank purchased a new position in Fifth Third Bancorp during the 4th quarter worth $649,264,000. Eurizon Capital SGR S.p.A. purchased a new position in Fifth Third Bancorp during the 4th quarter worth $17,830,000. Fideuram Asset Management Ireland dac purchased a new position in Fifth Third Bancorp during the 4th quarter worth $113,000. Finally, National Pension Service boosted its holdings in Fifth Third Bancorp by 2.7% during the 4th quarter. National Pension Service now owns 1,235,676 shares of the financial services provider’s stock worth $57,842,000 after acquiring an additional 32,981 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen reaffirmed a “buy” rating and set a $60.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. Evercore lifted their price objective on shares of Fifth Third Bancorp from $51.00 to $53.00 in a report on Tuesday, April 21st. UBS Group reaffirmed a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, February 4th. Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Morgan Stanley cut their price objective on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $57.19.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $50.31 on Wednesday. The company’s 50-day moving average is $48.63 and its 200 day moving average is $48.28. 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 company has a market capitalization of $45.60 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. Fifth Third Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share 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 the consensus estimate 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 previous year, the firm earned $0.71 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is 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.