Commerzbank Aktiengesellschaft FI Makes New $1.49 Million Investment in Fifth Third Bancorp $FITB

Commerzbank Aktiengesellschaft FI acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,453 shares of the financial services provider’s stock, valued at approximately $1,491,000.

A number of other institutional investors also recently bought and sold shares of the stock. Trust Co. of Vermont bought a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at about $168,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Fifth Third Bancorp in the 2nd quarter valued at $124,648,000. OneDigital Investment Advisors LLC bought a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $1,317,000. Simplicity Wealth LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter worth approximately $402,000. Finally, Trivium Point Advisory LLC purchased a new position in Fifth Third Bancorp during the 2nd quarter worth $1,092,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $57.30 on Wednesday. The stock’s 50-day moving average is $56.47 and its 200 day moving average is $51.88. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $51.96 billion, a P/E ratio of 19.23, a PEG ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Research analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 54.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on FITB. JPMorgan Chase & Co. lifted their price objective on Fifth Third Bancorp from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. The Goldman Sachs Group raised their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Citigroup boosted their price target on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Bank of America upped their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.54.

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.