Baird Financial Group Inc. Has $30.80 Million Position in Fifth Third Bancorp $FITB

Baird Financial Group Inc. lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 11.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 748,735 shares of the financial services provider’s stock after buying an additional 76,582 shares during the period. Baird Financial Group Inc. owned about 0.11% of Fifth Third Bancorp worth $30,795,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FITB. Tiemann Investment Advisors LLC boosted its position in Fifth Third Bancorp by 3.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 250 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 260 shares during the period. Harbour Investments Inc. grew its position in Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 263 shares in the last quarter. Moody National Bank Trust Division increased its stake in Fifth Third Bancorp by 1.5% in the 2nd quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock valued at $759,000 after buying an additional 271 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Fifth Third Bancorp by 6.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,290 shares of the financial services provider’s stock valued at $176,000 after buying an additional 276 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.1%

Shares of FITB stock opened at $45.42 on Friday. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $47.69. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $42.84 and its two-hundred day moving average is $42.44. The company has a market cap of $30.02 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business had revenue of $3.82 billion during the quarter. Equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.40 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.76%.

Analyst Ratings Changes

Several equities analysts have recently commented on FITB shares. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group upped their target price on Fifth Third Bancorp from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. The Goldman Sachs Group raised their price target on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Piper Sandler lowered their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Evan Bayh acquired 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was acquired at an average price of $41.22 per share, with a total value of $123,660.00. Following the transaction, the director owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. This trade represents a 3.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

About Fifth Third Bancorp

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.