Integrated Investment Consultants LLC Invests $467,000 in Fifth Third Bancorp $FITB

Integrated Investment Consultants LLC acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,056 shares of the financial services provider’s stock, valued at approximately $467,000.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Fifth Third Bancorp by 303.4% during the first quarter. Bank of New York Mellon Corp now owns 20,079,733 shares of the financial services provider’s stock worth $932,904,000 after acquiring an additional 15,101,629 shares in the last quarter. Norges Bank acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $649,264,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Fifth Third Bancorp by 41.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock valued at $1,664,013,000 after purchasing an additional 10,444,799 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Fifth Third Bancorp by 719.2% during the 4th quarter. Clearbridge Investments LLC now owns 3,012,022 shares of the financial services provider’s stock valued at $140,993,000 after purchasing an additional 2,644,332 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Fifth Third Bancorp by 12.1% during the 4th quarter. Invesco Ltd. now owns 23,799,312 shares of the financial services provider’s stock valued at $1,114,046,000 after purchasing an additional 2,574,712 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Zacks Research downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. UBS Group increased their price target on Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, DA Davidson raised their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp Stock Down 0.1%

Shares of NASDAQ FITB opened at $56.55 on Friday. The company has a 50 day simple moving average of $54.80 and a 200 day simple moving average of $51.23. The firm has a market cap of $51.25 billion, a PE ratio of 18.98, 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 $59.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. On average, research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 54.61%.

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.