Fieldview Capital Management LLC Grows Stock Holdings in Fifth Third Bancorp $FITB

Fieldview Capital Management LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,585 shares of the financial services provider’s stock after purchasing an additional 19,365 shares during the period. Fifth Third Bancorp comprises 1.2% of Fieldview Capital Management LLC’s holdings, making the stock its 3rd largest holding. Fieldview Capital Management LLC’s holdings in Fifth Third Bancorp were worth $6,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cullen Frost Bankers Inc. grew its position in shares of Fifth Third Bancorp by 4.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 187 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 206 shares in the last quarter. Keybank National Association OH grew its position in shares of Fifth Third Bancorp by 0.3% during the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after purchasing an additional 214 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Fifth Third Bancorp by 1.9% during the 4th quarter. CreativeOne Wealth LLC now owns 11,652 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 216 shares in the last quarter. Finally, Austin Private Wealth LLC grew its position in shares of Fifth Third Bancorp by 2.7% during the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of several analyst reports. Evercore increased their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a research note on Monday, March 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Fifth Third Bancorp in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.29.

Insiders Place Their Bets

In related news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Price Performance

FITB stock opened at $54.71 on Friday. The company has a fifty day moving average price of $49.83 and a 200-day moving average price of $48.87. The company has a market capitalization of $49.59 billion, a P/E ratio of 18.36, a PEG ratio of 1.09 and a beta of 0.92. Fifth Third Bancorp has a 52-week low of $37.86 and a 52-week high of $55.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, equities analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

About Fifth Third Bancorp

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.