American Century Companies Inc. Acquires 66,255 Shares of Fifth Third Bancorp (NASDAQ:FITB)

American Century Companies Inc. lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 28.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 300,561 shares of the financial services provider’s stock after purchasing an additional 66,255 shares during the period. American Century Companies Inc.’s holdings in Fifth Third Bancorp were worth $7,613,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in FITB. Fairfield Bush & CO. boosted its position in Fifth Third Bancorp by 1.4% during the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 502 shares during the period. Aviva PLC lifted its position in shares of Fifth Third Bancorp by 22.0% in the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock worth $11,008,000 after purchasing an additional 46,064 shares during the period. Prudential PLC purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter worth about $754,000. Cetera Investment Advisers lifted its position in shares of Fifth Third Bancorp by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock worth $2,365,000 after purchasing an additional 6,341 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its position in shares of Fifth Third Bancorp by 60.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock worth $5,224,000 after purchasing an additional 45,910 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $36.25 on Tuesday. The company has a 50 day moving average price of $34.61 and a 200-day moving average price of $30.54. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.36. The firm has a market capitalization of $24.69 billion, a PE ratio of 11.22, a P/E/G ratio of 1.39 and a beta of 1.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business posted $1.04 earnings per share. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.16 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.86%. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Morgan Stanley increased their price target on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, January 9th. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Finally, Royal Bank of Canada increased their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $35.30.

Read Our Latest Analysis on FITB

Insider Buying and Selling

In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

About Fifth Third Bancorp

(Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

Further Reading

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

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