Caprock Group LLC Invests $498,000 in Fifth Third Bancorp $FITB

Caprock Group LLC purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,889 shares of the financial services provider’s stock, valued at approximately $498,000.

A number of other institutional investors have also made changes to their positions in the business. Empowered Funds LLC increased its position in shares of Fifth Third Bancorp by 7.1% during the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 916 shares during the last quarter. Woodline Partners LP grew its stake in shares of Fifth Third Bancorp by 40.5% in the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after buying an additional 16,323 shares in the last quarter. CWM LLC increased its holdings in Fifth Third Bancorp by 5.4% during the second quarter. CWM LLC now owns 20,674 shares of the financial services provider’s stock worth $850,000 after buying an additional 1,059 shares during the last quarter. Harbour Investments Inc. raised 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 worth $102,000 after acquiring an additional 263 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in Fifth Third Bancorp by 5.1% in the second quarter. Koshinski Asset Management Inc. now owns 7,692 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 372 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.4%

FITB stock opened at $53.06 on Wednesday. The stock’s 50 day simple moving average is $49.97 and its 200 day simple moving average is $45.80. The company has a market cap of $35.08 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The firm had revenue of $3.82 billion during the quarter. On average, research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is 45.20%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the firm’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 transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stephens lifted their target price on Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. UBS Group reaffirmed a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Royal Bank Of Canada increased their price objective on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Barclays raised their target price on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.56.

Fifth Third Bancorp 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.