Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 27.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,388 shares of the financial services provider’s stock after purchasing an additional 14,419 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Fifth Third Bancorp were worth $2,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Northern Oak Wealth Management Inc. increased its stake in Fifth Third Bancorp by 12.0% in the 4th quarter. Northern Oak Wealth Management Inc. now owns 1,948 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 208 shares in the last quarter. West Oak Capital LLC increased its position in shares of Fifth Third Bancorp by 20.8% in the first quarter. West Oak Capital LLC now owns 1,450 shares of the financial services provider’s stock valued at $62,000 after buying an additional 250 shares in the last quarter. Concord Wealth Partners boosted its position in shares of Fifth Third Bancorp by 9.3% in the 1st quarter. Concord Wealth Partners now owns 3,093 shares of the financial services provider’s stock worth $133,000 after buying an additional 264 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Fifth Third Bancorp by 19.4% in the 1st quarter. CVA Family Office LLC now owns 1,659 shares of the financial services provider’s stock worth $71,000 after buying an additional 270 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in Fifth Third Bancorp by 1.4% in the 1st quarter. Stratos Wealth Advisors LLC now owns 20,738 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 287 shares during the last quarter. Institutional investors and hedge funds own 81.33% of the company’s stock.

Fifth Third Bancorp Trading Down 2.1 %

Shares of FITB opened at $35.03 on Friday. Fifth Third Bancorp has a twelve month low of $31.80 and a twelve month high of $50.64. The firm has a market capitalization of $24.04 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $34.80 and its 200 day simple moving average is $37.70.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.11). Fifth Third Bancorp had a return on equity of 12.99% and a net margin of 29.09%. During the same period in the previous year, the company earned $0.94 earnings per share. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.54 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.33 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.32 annualized dividend and a dividend yield of 3.77%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.30. Fifth Third Bancorp’s dividend payout ratio is presently 36.25%.

Insider Activity

In related news, Director Mitchell Feiger sold 8,734 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $35.20, for a total value of $307,436.80. Following the completion of the sale, the director now directly owns 11,030 shares in the company, valued at approximately $388,256. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Friday, June 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Fifth Third Bancorp from $46.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, September 12th. Piper Sandler cut their price target on Fifth Third Bancorp to $40.00 in a report on Friday, July 22nd. Wells Fargo & Company decreased their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Finally, Wolfe Research cut their target price on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating for the company in a research note on Thursday, May 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.47.

About Fifth Third Bancorp

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Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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