Fishman Jay A Ltd. MI Invests $1.16 Million in Fifth Third Bancorp $FITB

Fishman Jay A Ltd. MI purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 24,911 shares of the financial services provider’s stock, valued at approximately $1,157,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC increased its stake in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares during the period. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $29,000. Leonteq Securities AG purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $30,000. Reflection Asset Management acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $30,000. Finally, EFG International AG acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $57.99 on Wednesday. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $58.52. The stock has a market cap of $52.56 billion, a P/E ratio of 19.46, a PEG 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. The company has a 50-day moving average of $51.86 and a two-hundred day moving average of $50.10.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.71 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore set a $60.00 target price on Fifth Third Bancorp in a research report on Monday. Robert W. Baird increased their target price on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. lifted their price target on Fifth Third Bancorp from $54.50 to $61.00 and gave the company an “overweight” rating in a research note on Monday. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.11.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated 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 completion of the sale, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by corporate 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.