Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $6.65 Million in Fifth Third Bancorp $FITB

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 141,976 shares of the financial services provider’s stock, valued at approximately $6,646,000.

Several other large investors have also bought and sold shares of the company. Empowered Funds LLC boosted its holdings 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 valued at $543,000 after purchasing an additional 916 shares during the last quarter. Woodline Partners LP lifted its stake in 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 worth $2,218,000 after purchasing an additional 16,323 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Fifth Third Bancorp by 45.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 759 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Fifth Third Bancorp by 5.0% during the second quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 484 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $968,000. 83.79% of the stock is owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $47.60 on Wednesday. The firm has a 50-day moving average price of $47.76 and a 200 day moving average price of $47.83. The firm has a market capitalization of $43.14 billion, a PE ratio of 15.97, a P/E/G ratio of 0.98 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 52-week low of $36.64 and a 52-week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.87. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. TD Cowen restated a “buy” rating and set a $60.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, February 3rd. Truist Financial set a $57.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, April 21st. Morgan Stanley decreased their price objective on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Argus boosted their target price on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.19.

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.