NEOS Investment Management LLC Buys 28,731 Shares of Fifth Third Bancorp $FITB

NEOS Investment Management LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 45.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,788 shares of the financial services provider’s stock after acquiring an additional 28,731 shares during the period. NEOS Investment Management LLC’s holdings in Fifth Third Bancorp were worth $4,089,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares during the period. Evolution Wealth Management Inc. bought a new stake in Fifth Third Bancorp during the second quarter valued at about $26,000. United Community Bank raised its holdings in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 581 shares during the period. GoalVest Advisory LLC boosted its stake in shares of Fifth Third Bancorp by 246.3% in the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 532 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth about $32,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the subject of several recent analyst reports. TD Cowen restated a “buy” rating and issued a $60.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Citigroup raised their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Royal Bank Of Canada raised their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, UBS Group reissued a “buy” rating and issued a $59.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, February 4th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $56.56.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $52.90 on Friday. The business’s 50 day moving average price is $50.18 and its 200-day moving average price is $45.90. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $55.44. The company has a market cap of $34.97 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. Sell-side analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 annualized dividend and a yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.

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.