Janus Henderson Group PLC Acquires 16,925 Shares of Fifth Third Bancorp $FITB

Janus Henderson Group PLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 21.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 97,201 shares of the financial services provider’s stock after purchasing an additional 16,925 shares during the quarter. Janus Henderson Group PLC’s holdings in Fifth Third Bancorp were worth $4,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. D.A. Davidson & CO. boosted its holdings in 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 worth $2,359,000 after buying an additional 20,862 shares during the last quarter. Keybank National Association OH increased its stake in shares of 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 acquiring an additional 21,365 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $848,672,000 after acquiring an additional 96,656 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $1,514,000. Finally, Fruth Investment Management raised its holdings in Fifth Third Bancorp by 335.2% in the first quarter. Fruth Investment Management now owns 27,210 shares of the financial services provider’s stock worth $1,264,000 after purchasing an additional 20,957 shares during the period. 83.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FITB shares. UBS Group boosted their price target on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on Fifth Third Bancorp from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Argus upgraded Fifth Third Bancorp to a “strong-buy” rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, Truist Financial boosted their price objective on Fifth Third Bancorp from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp Stock Down 1.2%

Shares of FITB stock opened at $56.94 on Friday. The firm’s fifty day moving average price is $55.40 and its two-hundred day moving average price is $51.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. The firm has a market capitalization of $51.60 billion, a P/E ratio of 19.11, a PEG ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results 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). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue was up 45.8% compared to the same quarter last year. On average, equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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