Fifth Third Bancorp $FITB Shares Acquired by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 20.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 99,234 shares of the financial services provider’s stock after acquiring an additional 17,024 shares during the period. Swiss Life Asset Management Ltd’s holdings in Fifth Third Bancorp were worth $4,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 100.0% in 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 in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. United Community Bank raised its holdings in shares of Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 581 shares in the last quarter. Quest 10 Wealth Builders Inc. raised its holdings in shares of Fifth Third Bancorp by 619.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 632 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in shares of Fifth Third Bancorp by 77.6% in the 4th quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 322 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the transaction, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $47.15 on Thursday. The company’s fifty day moving average price is $47.85 and its 200 day moving average price is $47.68. Fifth Third Bancorp has a 12 month low of $36.64 and a 12 month high of $55.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $42.73 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.99 and a beta of 0.94.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the business earned $0.71 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FITB shares. Argus raised their price objective on shares of Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Wolfe Research reduced their price objective on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Robert W. Baird raised their price objective on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, TD Cowen reiterated a “buy” rating and set a $60.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $57.19.

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.