UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $416.24 Million Holdings in Fifth Third Bancorp $FITB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 16.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,384,087 shares of the financial services provider’s stock after acquiring an additional 1,049,520 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.81% of Fifth Third Bancorp worth $416,241,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC grew its holdings in Fifth Third Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 916 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Fifth Third Bancorp by 40.5% in the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock worth $2,218,000 after buying an additional 16,323 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 45.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock worth $100,000 after buying an additional 759 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Fifth Third Bancorp by 5.0% during the 2nd quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock worth $422,000 after buying an additional 484 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in Fifth Third Bancorp in the 2nd quarter valued at $968,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $54.57 on Monday. The firm’s 50-day moving average is $56.74 and its 200-day moving average is $52.00. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $59.50. 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 $49.49 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.09 and a beta of 0.91.

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

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.40 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 54.61%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore set a $60.00 target price on shares of Fifth Third Bancorp in a research report on Monday, July 6th. Bank of America lifted their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Robert W. Baird boosted their price objective on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Zacks Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.