Fifth Third Bancorp $FITB Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 50.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 623,022 shares of the financial services provider’s stock after acquiring an additional 207,755 shares during the period. Quantinno Capital Management LP’s holdings in Fifth Third Bancorp were worth $28,946,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in shares of Fifth Third Bancorp by 69.7% during the first quarter. D.A. Davidson & CO. now owns 50,783 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 20,862 shares in the last quarter. Robinhood Asset Management LLC bought a new position in Fifth Third Bancorp in the 4th quarter valued at about $8,529,000. Keybank National Association OH grew its position in Fifth Third Bancorp by 33.2% in the 1st quarter. Keybank National Association OH now owns 85,781 shares of the financial services provider’s stock valued at $3,985,000 after buying an additional 21,365 shares in the last quarter. Geode Capital Management LLC increased its stake in Fifth Third Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider’s stock valued at $848,672,000 after buying an additional 96,656 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $1,514,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FITB shares. 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. Evercore set a $60.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, July 6th. Morgan Stanley boosted their target price on Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. DA Davidson upped their target price on 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, Wells Fargo & Company increased their price target on Fifth Third Bancorp from $58.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.54.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $56.55 on Friday. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $59.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $54.80 and a two-hundred day moving average of $51.23. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 18.98, a PEG 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 (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.01). The business had revenue of $3.26 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. As a group, analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

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

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.