Fifth Third Bancorp $FITB Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,799,312 shares of the financial services provider’s stock after buying an additional 2,574,712 shares during the period. Invesco Ltd. owned about 3.60% of Fifth Third Bancorp worth $1,114,046,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bahl & Gaynor Inc. increased its holdings in shares of Fifth Third Bancorp by 18.0% during the 3rd quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock worth $7,189,000 after buying an additional 24,566 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Fifth Third Bancorp by 3.2% in the fourth quarter. Nordea Investment Management AB now owns 1,276,429 shares of the financial services provider’s stock valued at $59,788,000 after acquiring an additional 39,261 shares during the last quarter. Robinhood Asset Management LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $8,529,000. Westfield Capital Management Co. LP grew its position in Fifth Third Bancorp by 26.6% during the third 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. Finally, Barclays PLC increased its stake in Fifth Third Bancorp by 27.0% during the third quarter. Barclays PLC now owns 3,947,246 shares of the financial services provider’s stock worth $175,850,000 after acquiring an additional 840,094 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 0.5%

FITB opened at $52.82 on Friday. The firm’s 50 day moving average is $50.28 and its 200-day moving average is $49.19. Fifth Third Bancorp has a 52-week low of $38.91 and a 52-week high of $55.44. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $47.87 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.09 and a beta of 0.92.

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. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.71 earnings per share. Analysts expect 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. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FITB shares. Barclays lifted their price objective on Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Morgan Stanley dropped their target price on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Evercore lifted their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. Zacks Research downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $57.34.

Insider Activity

In other news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the 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 transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This represents a 9.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

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.