22,387 Shares in Fifth Third Bancorp $FITB Bought by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 22,387 shares of the financial services provider’s stock, valued at approximately $1,048,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd grew its stake in shares of Fifth Third Bancorp by 1,001.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,435 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 3,123 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Fifth Third Bancorp by 131.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 3,746,926 shares of the financial services provider’s stock worth $175,394,000 after purchasing an additional 2,126,978 shares in the last quarter. Vise Technologies Inc. grew its stake in shares of Fifth Third Bancorp by 9.3% in the fourth quarter. Vise Technologies Inc. now owns 8,866 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 756 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Fifth Third Bancorp by 2.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 106,812 shares of the financial services provider’s stock worth $5,000,000 after purchasing an additional 2,937 shares in the last quarter. Finally, State of Wyoming lifted its holdings in Fifth Third Bancorp by 29.6% in the fourth quarter. State of Wyoming now owns 2,547 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 582 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FITB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 price objective (down from $57.00) on shares of Fifth Third Bancorp in a report on Monday, March 30th. DA Davidson reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 20th. 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 upped their price objective on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a report 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.19.

Fifth Third Bancorp Trading Up 0.4%

Shares of FITB stock opened at $52.01 on Friday. The stock has a 50-day simple moving average of $49.08 and a 200 day simple moving average of $48.47. Fifth Third Bancorp has a fifty-two week low of $37.86 and a fifty-two week high of $55.44. The stock has a market capitalization of $47.14 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.06 and a beta of 0.92. 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 earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating 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 business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the business posted $0.71 earnings per share. On average, sell-side analysts expect that Fifth Third Bancorp will post 4.1 earnings per share 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. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction on Monday, April 20th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was 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 directly 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.51% of the company’s stock.

Fifth Third Bancorp 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.