Mackenzie Financial Corp Acquires 2,208 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mackenzie Financial Corp lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 74,265 shares of the financial services provider’s stock after purchasing an additional 2,208 shares during the quarter. Mackenzie Financial Corp’s holdings in Fifth Third Bancorp were worth $2,561,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FITB. Nordea Investment Management AB increased its holdings in Fifth Third Bancorp by 57.5% during the 4th quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after purchasing an additional 269,152 shares in the last quarter. Raymond James & Associates lifted its stake in Fifth Third Bancorp by 11.7% in the 4th quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after acquiring an additional 69,273 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Fifth Third Bancorp by 48.0% in the 4th quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock valued at $12,102,000 after acquiring an additional 113,838 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after acquiring an additional 393,937 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Fifth Third Bancorp by 4.3% in the third quarter. Natixis Advisors L.P. now owns 671,803 shares of the financial services provider’s stock valued at $17,017,000 after purchasing an additional 27,610 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $36.55 on Tuesday. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41. The firm has a 50-day moving average price of $35.26 and a two-hundred day moving average price of $31.97. The company 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $0.78 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

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

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, 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 link. In other news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold a total of 46,357 shares of company stock valued at $1,693,888 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective 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. UBS Group reissued a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Wells Fargo & Company lifted their price objective on shares of 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, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 target price (up from $39.00) on shares of Fifth Third Bancorp in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $36.31.

Fifth Third Bancorp 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.