29,499 Shares in Fifth Third Bancorp $FITB Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,499 shares of the financial services provider’s stock, valued at approximately $1,314,000.

Several other hedge funds have also bought and sold shares of the stock. Evolution Wealth Management Inc. purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at approximately $26,000. Activest Wealth Management grew its position in Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after buying an additional 626 shares during the period. Banque Transatlantique SA purchased a new position in Fifth Third Bancorp in the first quarter valued at $27,000. GoalVest Advisory LLC raised its position in shares of Fifth Third Bancorp by 246.3% in the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 532 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.9%

NASDAQ FITB opened at $47.71 on Monday. The business has a fifty day moving average price of $44.67 and a 200 day moving average price of $43.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $31.54 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.86 and a beta of 0.97. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $48.71.

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

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.40 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio is presently 47.76%.

Insider Buying and Selling

In related news, Director Evan Bayh acquired 3,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the transaction, the director owned 84,942 shares in the company, valued at $3,501,309.24. This represents a 3.66% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on Fifth Third Bancorp from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Citigroup boosted their price objective on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. UBS Group boosted their price objective on Fifth Third Bancorp from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Truist Financial increased their target price on Fifth Third Bancorp from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, Janney Montgomery Scott boosted their price target on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.15.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.