Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,168 shares of the financial services provider’s stock after acquiring an additional 3,476 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fifth Third Bancorp were worth $2,110,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Fifth Third Bancorp by 2.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 596,732 shares of the financial services provider’s stock valued at $20,581,000 after buying an additional 16,813 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Fifth Third Bancorp by 54.2% during the fourth quarter. Everence Capital Management Inc. now owns 30,060 shares of the financial services provider’s stock valued at $1,037,000 after buying an additional 10,570 shares in the last quarter. Signet Financial Management LLC grew its holdings in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Signet Financial Management LLC now owns 72,029 shares of the financial services provider’s stock valued at $2,484,000 after buying an additional 581 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $257,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Fifth Third Bancorp by 3.1% during the fourth quarter. Mackenzie Financial Corp now owns 74,265 shares of the financial services provider’s stock valued at $2,561,000 after buying an additional 2,208 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,357 shares of company stock valued at $1,693,888. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $36.55 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The business has a 50-day moving average of $35.26 and a two-hundred day moving average of $31.97. The stock has a market capitalization of $24.90 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.83%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. DA Davidson lifted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday. Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Royal Bank of Canada lifted their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.31.

Fifth Third Bancorp Company Profile

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.