Stephens Inc. AR Acquires Shares of 13,875 Fifth Third Bancorp $FITB

Stephens Inc. AR acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 13,875 shares of the financial services provider’s stock, valued at approximately $649,000.

Other large investors have also bought and sold shares of the company. AE Wealth Management LLC boosted its position in shares of 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 worth $15,503,000 after purchasing an additional 15,627 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of 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 worth $7,189,000 after purchasing an additional 24,566 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of 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 worth $90,131,000 after purchasing an additional 48,080 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Fifth Third Bancorp by 3.2% in the 4th quarter. Nordea Investment Management AB now owns 1,276,429 shares of the financial services provider’s stock worth $59,788,000 after purchasing an additional 39,261 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of 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 worth $72,169,000 after purchasing an additional 340,030 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FITB. Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. TD Cowen restated a “buy” rating and issued a $60.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. Jefferies Financial Group boosted their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Morgan Stanley decreased their price objective on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company 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 company. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $57.19.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $49.16 on Friday. Fifth Third Bancorp has a twelve month low of $36.64 and a twelve month high of $55.44. The firm has a market cap of $44.55 billion, a P/E ratio of 16.50, a PEG ratio of 1.00 and a beta of 0.94. The company has a 50 day moving average of $47.85 and a 200 day moving average of $47.93. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

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 for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates 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 business earned $0.71 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.3%. Fifth Third Bancorp’s payout ratio is currently 53.69%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s 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 sale, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $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.

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.