Osmosis Investment Management UK Ltd Takes Position in Fifth Third Bancorp $FITB

Osmosis Investment Management UK Ltd acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,194 shares of the financial services provider’s stock, valued at approximately $1,984,000.

Several other hedge funds also recently made changes to their positions in the business. Clearstead Trust LLC bought a new stake in Fifth Third Bancorp during the second quarter worth approximately $29,000. Center for Financial Planning Inc. bought a new position in shares of Fifth Third Bancorp in the first quarter valued at $25,000. SouthState Bank Corp lifted its position in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $29,000. Finally, Leonteq Securities AG bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $30,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.2%

FITB stock opened at $54.91 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market cap of $49.80 billion, a PE ratio of 18.43, a PEG ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. The company has a fifty day simple moving average of $56.58 and a 200 day simple moving average of $51.98.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). The company 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 company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. Sell-side analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 2.9%. Fifth Third Bancorp’s dividend payout ratio is 54.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FITB. UBS Group increased their price target on Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada lifted their target price on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. upped their price target 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, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.54.

Fifth Third Bancorp Company 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.