55,075 Shares in Fifth Third Bancorp $FITB Bought by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. bought a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 55,075 shares of the financial services provider’s stock, valued at approximately $2,454,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new position in Fifth Third Bancorp in the second quarter valued at about $26,000. Activest Wealth Management raised its stake in shares of Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 626 shares in the last quarter. GoalVest Advisory LLC lifted its position in shares of Fifth Third Bancorp by 246.3% during the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the second quarter worth about $32,000. Finally, BankPlus Trust Department boosted its position in Fifth Third Bancorp by 53.0% during the 2nd quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 290 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 1.2%

Shares of NASDAQ FITB opened at $48.56 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The company has a market cap of $32.10 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $50.47. The firm’s 50-day simple moving average is $46.16 and its 200 day simple moving average is $44.40.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business posted $0.85 earnings per share. Fifth Third Bancorp’s revenue was up 63.1% compared to the same quarter last year. On average, research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio is currently 47.76%.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Robert W. Baird increased their price objective on Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. Evercore ISI set a $52.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, January 6th. The Goldman Sachs Group upped their target price on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wolfe Research restated an “outperform” rating and set a $55.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

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.