Danske Bank A S Boosts Stock Holdings in Fifth Third Bancorp $FITB

Danske Bank A S boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 18.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 378,243 shares of the financial services provider’s stock after purchasing an additional 57,670 shares during the quarter. Danske Bank A S’s holdings in Fifth Third Bancorp were worth $17,706,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in Fifth Third Bancorp by 4.7% in the 3rd quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider’s stock valued at $15,503,000 after acquiring an additional 15,627 shares during the period. Bahl & Gaynor Inc. grew its stake in Fifth Third Bancorp by 18.0% in the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock valued at $7,189,000 after acquiring an additional 24,566 shares during the period. Envestnet Asset Management Inc. grew its stake in Fifth Third Bancorp by 2.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider’s stock valued at $90,131,000 after acquiring an additional 48,080 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at $1,314,000. Finally, Westfield Capital Management Co. LP grew its stake in Fifth Third Bancorp by 26.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider’s stock valued at $72,169,000 after acquiring an additional 340,030 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.1%

Shares of FITB stock opened at $50.46 on Monday. 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 has a twelve month low of $36.48 and a twelve month high of $55.44. The company’s 50-day moving average price is $48.11 and its 200-day moving average price is $47.31. The stock has a market cap of $45.70 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.03 and a beta of 0.94.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, equities analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated 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 represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FITB shares. Keefe, Bruyette & Woods lifted their price target on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research note on Monday, March 30th. Argus lifted their target price on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Citigroup lifted their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, Wolfe Research lowered their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus price target of $57.19.

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.