Capital International Inc. CA Boosts Holdings in Fifth Third Bancorp $FITB

Capital International Inc. CA boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 31.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 81,035 shares of the financial services provider’s stock after purchasing an additional 19,289 shares during the period. Capital International Inc. CA’s holdings in Fifth Third Bancorp were worth $3,610,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Evolution Wealth Management Inc. acquired a new position in shares of Fifth Third Bancorp in the second quarter worth about $26,000. Westside Investment Management Inc. grew its holdings in Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares during the period. United Community Bank increased its position in shares of Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after buying an additional 581 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter valued at approximately $48,000. Finally, Country Trust Bank acquired a new position in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $51,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $60.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Royal Bank Of Canada increased their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Janney Montgomery Scott lifted their target price 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. Citigroup boosted their price target on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price objective 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. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.91.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $45.06 on Thursday. The firm has a 50-day simple moving average of $50.60 and a two-hundred day simple moving average of $46.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $55.44. The stock has a market cap of $40.64 billion, a PE ratio of 12.73, a P/E/G ratio of 0.95 and a beta of 0.96.

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.