Nykredit A S Invests $12.80 Million in Fifth Third Bancorp $FITB

Nykredit A S bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 227,114 shares of the financial services provider’s stock, valued at approximately $12,802,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. purchased a new position in Fifth Third Bancorp during the 1st quarter valued at $25,000. SouthState Bank Corp boosted its stake in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Monetary Solutions Ltd purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $29,000. Clearstead Trust LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter valued at about $29,000. Finally, Leonteq Securities AG bought a new position in Fifth Third Bancorp in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the topic of several research reports. DA Davidson lifted their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 20th. UBS Group raised their target price 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. Evercore set a $60.00 price target on Fifth Third Bancorp in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on Fifth Third Bancorp from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley boosted their target price 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 investment 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, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $54.93 on Friday. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $59.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $49.82 billion, a P/E ratio of 18.43, a PEG ratio of 1.09 and a beta of 0.89. The stock’s 50 day moving average is $56.63 and its 200 day moving average is $52.03.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, 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 given a $0.40 dividend. This represents a $1.60 annualized dividend 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 currently 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.