Fifth Third Bancorp $FITB Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 32.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,073 shares of the financial services provider’s stock after acquiring an additional 11,476 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $2,187,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Zacks Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Jefferies Financial Group boosted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Truist Financial upped their target price on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Stephens initiated coverage on shares of Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Sixteen investment 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 an average rating of “Moderate Buy” and an average price target of $59.11.

Fifth Third Bancorp Stock Down 0.1%

Shares of NASDAQ:FITB opened at $57.11 on Wednesday. The stock has a market capitalization of $51.76 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $58.51. The company’s fifty day moving average is $52.51 and its two-hundred day moving average is $50.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the firm posted $0.71 EPS. Equities analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

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

Insider Buying and Selling

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

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.