Severin Investments LLC Lowers Position in Fifth Third Bancorp $FITB

Severin Investments LLC decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 52.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,320 shares of the financial services provider’s stock after selling 10,315 shares during the quarter. Severin Investments LLC’s holdings in Fifth Third Bancorp were worth $433,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its position in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 517 shares during the period. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $30,000. Reflection Asset Management acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $30,000. Finally, EFG International AG acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FITB shares. Wolfe Research cut their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Robert W. Baird increased their target price on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a research note on Monday, March 30th. Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.94.

Insiders Place Their Bets

In other news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction on 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 owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $56.46 on Wednesday. The stock has a market capitalization of $51.17 billion, a P/E ratio of 18.95, a PEG ratio of 1.09 and a beta of 0.92. The business has a 50 day simple moving average of $51.17 and a two-hundred day simple moving average of $49.77. Fifth Third Bancorp has a 12 month low of $40.04 and a 12 month high of $56.94. 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 (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company posted $0.71 earnings per share. As a group, analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders 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 2.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 53.69%.

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.