Hsbc Holdings PLC Acquires 199,924 Shares of Fifth Third Bancorp $FITB

Hsbc Holdings PLC lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,328,951 shares of the financial services provider’s stock after purchasing an additional 199,924 shares during the quarter. Hsbc Holdings PLC’s holdings in Fifth Third Bancorp were worth $109,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FITB. Vanguard Group Inc. increased its holdings in Fifth Third Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock worth $3,929,647,000 after buying an additional 637,207 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Fifth Third Bancorp by 41.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,548,204 shares of the financial services provider’s stock worth $1,664,013,000 after buying an additional 10,444,799 shares during the last quarter. Capital World Investors lifted its stake in Fifth Third Bancorp by 5.6% during the 4th quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider’s stock valued at $1,523,650,000 after acquiring an additional 1,719,361 shares during the period. State Street Corp lifted its stake in Fifth Third Bancorp by 0.3% during the 4th quarter. State Street Corp now owns 31,437,600 shares of the financial services provider’s stock valued at $1,484,021,000 after acquiring an additional 101,245 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider’s stock valued at $1,120,586,000 after acquiring an additional 530,489 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Truist Financial set a $57.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, April 21st. Jefferies Financial Group lifted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Fifth Third Bancorp in a report on Monday, May 4th. Evercore lifted their price objective on Fifth Third Bancorp from $51.00 to $53.00 in a report on Tuesday, April 21st. Finally, Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.34.

Fifth Third Bancorp Stock Up 0.1%

Shares of FITB stock opened at $52.82 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. Fifth Third Bancorp has a one year low of $38.91 and a one year high of $55.44. The company’s fifty day moving average price is $50.35 and its 200-day moving average price is $49.26. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.09 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate 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. Sell-side analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 53.69%.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a 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 on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.