Steph & Co. Has $126,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Steph & Co. boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 22.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,374 shares of the financial services provider’s stock after buying an additional 618 shares during the quarter. Steph & Co.’s holdings in Fifth Third Bancorp were worth $126,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of FITB. Capital World Investors grew its stake in shares of Fifth Third Bancorp by 34.2% during the 4th quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after acquiring an additional 10,472,392 shares in the last quarter. Norges Bank bought a new position in Fifth Third Bancorp in the fourth quarter valued at $257,189,000. Smead Capital Management Inc. acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $67,354,000. Boston Partners lifted its position in Fifth Third Bancorp by 11.5% during the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Fifth Third Bancorp by 341.8% during the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after buying an additional 1,492,124 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of several analyst reports. UBS Group reiterated a “neutral” rating and set a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Friday, May 31st. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. Robert W. Baird restated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.21.

Fifth Third Bancorp Stock Performance

FITB opened at $36.64 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $25.06 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The business has a fifty day simple moving average of $36.81 and a 200 day simple moving average of $35.46. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the company posted $0.78 earnings per share. Research analysts expect that Fifth Third Bancorp will post 3.26 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.82%. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.