Edmond DE Rothschild Holding S.A. Makes New $42.45 Million Investment in Fifth Third Bancorp $FITB

Edmond DE Rothschild Holding S.A. purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 753,139 shares of the financial services provider’s stock, valued at approximately $42,454,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Csenge Advisory Group bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth $1,192,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $517,000. Johnson Financial Group Inc. acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $594,000. NewEdge Wealth LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at $77,070,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at $4,265,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $54.96 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $49.84 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. The company has a 50 day simple moving average of $56.52 and a 200-day simple moving average of $51.92. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $59.50.

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

Fifth Third Bancorp Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is currently 54.61%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FITB shares. Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Bank of America upped their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Evercore set a $60.00 target price on shares of Fifth Third Bancorp in a report on Monday, July 6th. Argus raised shares of Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.54.

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.