Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Cwm LLC

Cwm LLC boosted its stake in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 68.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,089 shares of the financial services provider’s stock after purchasing an additional 5,717 shares during the period. Cwm LLC’s holdings in Fifth Third Bancorp were worth $450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Fifth Third Bancorp by 4.2% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,625 shares of the financial services provider’s stock valued at $276,000 after buying an additional 350 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Fifth Third Bancorp by 160.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 20,846 shares of the financial services provider’s stock valued at $666,000 after buying an additional 12,835 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Fifth Third Bancorp by 4.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 227,294 shares of the financial services provider’s stock valued at $7,264,000 after buying an additional 9,265 shares during the last quarter. Truist Financial Corp boosted its position in Fifth Third Bancorp by 5.8% in the 3rd quarter. Truist Financial Corp now owns 383,604 shares of the financial services provider’s stock valued at $12,259,000 after buying an additional 20,963 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $284,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $34.90 on Friday. The company has a 50-day moving average price of $34.12 and a two-hundred day moving average price of $34.27. Fifth Third Bancorp has a 52 week low of $30.92 and a 52 week high of $50.64. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last issued its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.05). The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.21 billion. Fifth Third Bancorp had a return on equity of 13.98% and a net margin of 27.47%. During the same period last year, the company earned $0.94 earnings per share. Analysts forecast that Fifth Third Bancorp will post 3.44 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.32 annualized dividend and a dividend yield of 3.78%. Fifth Third Bancorp’s payout ratio is 40.62%.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent analyst reports. DA Davidson initiated coverage on shares of Fifth Third Bancorp in a research note on Tuesday, December 20th. They issued a “neutral” rating and a $36.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and issued a $37.00 target price on shares of Fifth Third Bancorp in a research note on Monday, December 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Fifth Third Bancorp from $44.00 to $37.00 in a research note on Friday, January 6th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Fifth Third Bancorp from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.57.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Robert P. Shaffer sold 10,209 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $35.76, for a total value of $365,073.84. Following the completion of the transaction, the executive vice president now owns 69,534 shares of the company’s stock, valued at $2,486,535.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Robert P. Shaffer sold 10,209 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $35.76, for a total value of $365,073.84. Following the completion of the transaction, the executive vice president now owns 69,534 shares of the company’s stock, valued at $2,486,535.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James C. Leonard purchased 3,893 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was acquired at an average cost of $32.16 per share, with a total value of $125,198.88. Following the purchase, the chief financial officer now owns 139,244 shares of the company’s stock, 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.

Fifth Third Bancorp Company Profile

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Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.