Vanguard Group Inc. Has $3.71 Billion Position in Fifth Third Bancorp $FITB

Vanguard Group Inc. cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,311,669 shares of the financial services provider’s stock after selling 538,155 shares during the quarter. Vanguard Group Inc. owned 12.59% of Fifth Third Bancorp worth $3,711,535,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FITB. Wealthquest Corp raised its stake in shares of Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC raised its stake in shares of Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after buying an additional 250 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after acquiring an additional 251 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Fifth Third Bancorp by 4.1% during the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 260 shares during the period. Finally, Harbour Investments Inc. boosted its position in shares of Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 263 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on FITB shares. Janney Montgomery Scott raised their price target on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. UBS Group restated a “buy” rating and set a $59.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Truist Financial increased their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Wolfe Research lifted their price objective on Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.56.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by insiders.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $53.06 on Wednesday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $49.97 and its 200-day moving average is $45.80. The firm has a market capitalization of $35.08 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.07 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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 19.50% and a return on equity of 13.53%. The firm had revenue of $3.82 billion during the quarter. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 annualized dividend and a yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 45.20%.

About Fifth Third Bancorp

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.