Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its position in Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,133,284 shares of the financial services provider’s stock after selling 103,867 shares during the quarter. Deutsche Bank AG owned about 0.17% of Fifth Third Bancorp worth $38,078,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wagner Wealth Management LLC acquired a new position in Fifth Third Bancorp in the 2nd quarter valued at $27,000. Evoke Wealth LLC increased its stake in shares of Fifth Third Bancorp by 172.7% in the 2nd quarter. Evoke Wealth LLC now owns 1,178 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 746 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth $49,000. Covestor Ltd increased its stake in shares of Fifth Third Bancorp by 43.9% in the 1st quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 372 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Fifth Third Bancorp by 46.0% in the 2nd quarter. Quent Capital LLC now owns 1,591 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 501 shares during the last quarter. 81.33% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $36.33 on Thursday. The business has a 50-day moving average of $34.37 and a 200 day moving average of $35.01. Fifth Third Bancorp has a 12 month low of $30.92 and a 12 month high of $50.64. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.76 and a quick ratio of 0.75.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last announced its earnings results on Thursday, October 20th. The financial services provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.07). Fifth Third Bancorp had a net margin of 27.47% and a return on equity of 13.98%. During the same period in the previous year, the firm earned $0.94 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.45 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Thursday, September 29th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.30. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 40.62%.

Insider Activity

In related news, CEO Timothy Spence acquired 7,763 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was acquired at an average price of $32.29 per share, for a total transaction of $250,667.27. Following the purchase, the chief executive officer now owns 224,417 shares of the company’s stock, valued at approximately $7,246,424.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Timothy Spence acquired 7,763 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was acquired at an average price of $32.29 per share, for a total transaction of $250,667.27. Following the purchase, the chief executive officer now owns 224,417 shares of the company’s stock, valued at approximately $7,246,424.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James C. Leonard acquired 3,893 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was bought at an average price of $32.16 per share, with a total value of $125,198.88. Following the purchase, the chief financial officer now directly owns 139,244 shares in the company, valued at approximately $4,478,087.04. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent research reports. Piper Sandler cut their target price on Fifth Third Bancorp to $38.00 in a research note on Thursday, September 29th. Barclays lowered their price target on Fifth Third Bancorp to $48.00 in a report on Thursday, October 27th. Royal Bank of Canada lowered their price target on Fifth Third Bancorp from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, October 21st. JPMorgan Chase & Co. increased their price target on Fifth Third Bancorp from $37.50 to $39.00 in a report on Wednesday, November 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $39.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, September 28th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

Fifth Third Bancorp Profile

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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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