Janus Henderson Group PLC Has $4.51 Million Stock Position in Fifth Third Bancorp $FITB

Janus Henderson Group PLC lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,201 shares of the financial services provider’s stock after purchasing an additional 16,925 shares during the period. Janus Henderson Group PLC’s holdings in Fifth Third Bancorp were worth $4,515,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Center for Financial Planning Inc. acquired a new position in shares of Fifth Third Bancorp during the 1st quarter valued at about $25,000. SouthState Bank Corp boosted its position in Fifth Third Bancorp by 74.7% during 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 acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $29,000. Leonteq Securities AG bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $30,000. Finally, Reflection Asset Management acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $30,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FITB has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Barclays upped their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Citigroup raised their target price on Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price target on Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. One equities 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp Stock Down 1.2%

FITB opened at $56.94 on Friday. The firm has a market cap of $51.60 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day simple moving average is $55.40 and its 200-day simple moving average is $51.49. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm earned $0.88 earnings per share. Fifth Third Bancorp’s quarterly revenue was up 45.8% on a year-over-year basis. Equities research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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

Fifth Third Bancorp 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.