Fifth Third Bancorp $FITB Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 36.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,692 shares of the financial services provider’s stock after buying an additional 11,755 shares during the period. Glenmede Trust Co. NA’s holdings in Fifth Third Bancorp were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Fifth Third Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock valued at $3,929,647,000 after purchasing an additional 637,207 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fifth Third Bancorp by 41.6% during the fourth 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 in the last quarter. Capital World Investors boosted its stake in Fifth Third Bancorp by 5.6% during the fourth quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider’s stock worth $1,523,650,000 after buying an additional 1,719,361 shares during the last quarter. State Street Corp grew its holdings in Fifth Third Bancorp by 0.3% in 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 buying an additional 101,245 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Fifth Third Bancorp by 2.3% in 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 buying an additional 530,489 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Robert W. Baird lifted their target price on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Jefferies Financial Group boosted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Barclays increased their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Finally, Bank of America lifted their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 20th. One research 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. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp Stock Down 0.4%

Shares of FITB opened at $57.56 on Thursday. The company’s 50-day simple moving average is $55.26 and its 200-day simple moving average is $51.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. The stock has a market capitalization of $52.17 billion, a PE ratio of 19.32, a P/E/G ratio of 1.09 and a beta of 0.90.

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

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.40 dividend. 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 dividend payout ratio (DPR) is presently 54.61%.

About Fifth Third Bancorp

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.