21,153 Shares in Fifth Third Bancorp $FITB Acquired by Csenge Advisory Group

Csenge Advisory Group bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,153 shares of the financial services provider’s stock, valued at approximately $1,192,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Center for Financial Planning Inc. bought a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $25,000. SouthState Bank Corp raised its position in shares of Fifth Third Bancorp by 74.7% during the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Monetary Solutions Ltd bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Clearstead Trust LLC acquired a new position in shares of Fifth Third Bancorp in the second quarter worth approximately $29,000. Finally, Leonteq Securities AG bought a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $30,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $54.96 on Thursday. The firm has a 50 day moving average of $56.52 and a 200-day moving average of $51.92. The company has a market cap of $49.84 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. 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 $40.04 and a 52 week high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 EPS. On average, equities analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 54.61%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FITB. Stephens started coverage on shares of Fifth Third Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $58.00 price target for the company. Bank of America upped their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada increased their price objective on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, July 20th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.