Fifth Third Bancorp $FITB Stock Position Lifted by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 50.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 623,022 shares of the financial services provider’s stock after acquiring an additional 207,755 shares during the quarter. Quantinno Capital Management LP owned 0.07% of Fifth Third Bancorp worth $28,946,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FITB. Center for Financial Planning Inc. acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at approximately $25,000. SouthState Bank Corp boosted its holdings in Fifth Third Bancorp by 74.7% in the first quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 236 shares during the period. Monetary Solutions Ltd bought a new stake in Fifth Third Bancorp during the fourth quarter valued at $29,000. Leonteq Securities AG bought a new stake in Fifth Third Bancorp during the fourth quarter valued at $30,000. Finally, Reflection Asset Management bought a new stake in Fifth Third Bancorp during the fourth quarter valued at $30,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $56.55 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $51.25 billion, a PE ratio of 18.98, a P/E/G ratio of 1.09 and a beta of 0.90. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50. The business’s fifty day moving average price is $54.80 and its two-hundred day moving average price is $51.23.

Fifth Third Bancorp (NASDAQ:FITB) last announced 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). The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The business’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. On average, research analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. boosted their price objective on shares of Fifth Third Bancorp from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Argus upgraded shares of Fifth Third Bancorp to a “strong-buy” rating in a research note on Wednesday, July 22nd. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Citigroup raised their target price on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.54.

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.