Zurcher Kantonalbank Zurich Cantonalbank Buys 16,813 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 596,732 shares of the financial services provider’s stock after buying an additional 16,813 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Fifth Third Bancorp worth $20,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in FITB. GoalVest Advisory LLC lifted its stake in Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares during the last quarter. Denali Advisors LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth $36,000. Clear Street Markets LLC lifted its stake in Fifth Third Bancorp by 93.4% during the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 647 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth $38,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $34.10 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $35.14 and a two-hundred day moving average price of $31.68. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The company has a market cap of $23.23 billion, a P/E ratio of 10.56, a PEG ratio of 1.29 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $1.04 EPS. As a group, analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.11%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays upped their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada upped their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. UBS Group reiterated a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Morgan Stanley upped their price target on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.63.

About Fifth Third Bancorp

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.