Fifth Third Bancorp $FITB Stock Holdings Increased by World Investment Advisors

World Investment Advisors lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 245.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,621 shares of the financial services provider’s stock after acquiring an additional 24,601 shares during the period. World Investment Advisors’ holdings in Fifth Third Bancorp were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $649,264,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Fifth Third Bancorp by 41.6% during the fourth 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 buying an additional 10,444,799 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Fifth Third Bancorp by 719.2% in the 4th quarter. Clearbridge Investments LLC now owns 3,012,022 shares of the financial services provider’s stock valued at $140,993,000 after purchasing an additional 2,644,332 shares during the period. Invesco Ltd. increased its stake in Fifth Third Bancorp by 12.1% in the 4th 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 period. Finally, Bank of America Corp DE increased its stake in shares of Fifth Third Bancorp by 16.7% in the third quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock worth $714,457,000 after acquiring an additional 2,293,939 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In related news, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction on Monday, April 20th. The stock was 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 directly owned 76,299 shares in the company, valued at $3,873,700.23. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

FITB stock opened at $57.99 on Wednesday. The stock has a 50-day moving average price of $51.86 and a two-hundred day moving average price of $50.10. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $58.52. The stock has a market cap of $52.56 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

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 for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. Equities analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Fifth Third Bancorp’s payout ratio is presently 53.69%.

Wall Street Analysts Forecast Growth

FITB has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, May 4th. Stephens assumed coverage on Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 price objective for the company. 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. Robert W. Baird raised their price objective on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, DA Davidson restated a “buy” rating and issued a $58.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 20th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.11.

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.