33,540 Shares in Fifth Third Bancorp $FITB Purchased by Haverford Trust Co

Haverford Trust Co acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,540 shares of the financial services provider’s stock, valued at approximately $1,891,000.

Other hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in Fifth Third Bancorp by 69.7% during the 1st quarter. D.A. Davidson & CO. now owns 50,783 shares of the financial services provider’s stock worth $2,359,000 after purchasing an additional 20,862 shares during the period. Keybank National Association OH lifted its holdings in shares of Fifth Third Bancorp by 33.2% in the 1st quarter. Keybank National Association OH now owns 85,781 shares of the financial services provider’s stock valued at $3,985,000 after buying an additional 21,365 shares during the period. Geode Capital Management LLC boosted its stake in shares of Fifth Third Bancorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider’s stock valued at $848,672,000 after buying an additional 96,656 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $1,514,000. Finally, Fruth Investment Management grew its holdings in Fifth Third Bancorp by 335.2% during the first quarter. Fruth Investment Management now owns 27,210 shares of the financial services provider’s stock worth $1,264,000 after acquiring an additional 20,957 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 0.5%

FITB opened at $54.76 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $59.50. The business’s fifty day moving average is $56.54 and its two-hundred day moving average is $51.97.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The firm had revenue of $3.26 billion during 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 company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 54.61%.

Analysts Set New Price Targets

FITB has been the subject of a number of recent analyst reports. Citigroup raised their target price on Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Robert W. Baird upped their price target on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Truist Financial increased their price target on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. DA Davidson raised 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. Finally, UBS Group boosted their price objective on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. 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. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $60.54.

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.