Signaturefd LLC Increases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Signaturefd LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,792 shares of the financial services provider’s stock after purchasing an additional 368 shares during the quarter. Signaturefd LLC’s holdings in Fifth Third Bancorp were worth $548,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors grew its position in Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after purchasing an additional 5,512,333 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after acquiring an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock valued at $371,837,000 after acquiring an additional 399,827 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Fifth Third Bancorp by 2.3% during the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock valued at $165,015,000 after acquiring an additional 99,593 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock valued at $62,096,000 after acquiring an additional 56,298 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Argus raised their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America raised their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $42.28.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $43.22 on Friday. Fifth Third Bancorp has a 12 month low of $22.75 and a 12 month high of $45.71. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.94 and a beta of 1.22. The company’s 50 day moving average is $42.49 and its two-hundred day moving average is $39.30. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business posted $0.92 EPS. Fifth Third Bancorp’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Insider Activity

In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp 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.