Natixis Advisors LLC Acquires 11,341 Shares of Fifth Third Bancorp $FITB

Natixis Advisors LLC grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 674,312 shares of the financial services provider’s stock after purchasing an additional 11,341 shares during the period. Natixis Advisors LLC owned approximately 0.10% of Fifth Third Bancorp worth $31,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. increased its stake in shares of Fifth Third Bancorp by 4.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 187 shares during the last quarter. Koshinski Asset Management Inc. grew its position in Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 206 shares during the last quarter. Keybank National Association OH grew its position in Fifth Third Bancorp by 0.3% during the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after acquiring an additional 214 shares during the last quarter. Austin Private Wealth LLC grew its position in Fifth Third Bancorp by 2.7% during the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 228 shares during the last quarter. Finally, Wealthquest Corp grew its position in Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FITB. Weiss Ratings upgraded Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Zacks Research lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wolfe Research reduced their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.19.

Fifth Third Bancorp Trading Up 4.7%

NASDAQ FITB opened at $51.80 on Friday. The business’s 50-day moving average price is $48.95 and its two-hundred day moving average price is $48.45. Fifth Third Bancorp has a 12 month low of $37.86 and a 12 month high of $55.44. The firm has a market capitalization of $46.95 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.01 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted $0.71 EPS. On average, analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is 53.69%.

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 stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the sale, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $1,009,200.00. Following the completion of the sale, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

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.