22,841 Shares in Fifth Third Bancorp $FITB Acquired by North Dakota State Investment Board

North Dakota State Investment Board bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,841 shares of the financial services provider’s stock, valued at approximately $1,069,000.

Several other large investors also recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 206 shares during the period. Keybank National Association OH lifted its stake in Fifth Third Bancorp by 0.3% during the 4th quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after acquiring an additional 214 shares in the last quarter. Austin Private Wealth LLC lifted its stake in Fifth Third Bancorp by 2.7% during the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 228 shares in the last quarter. Wealthquest Corp raised its position in Fifth Third Bancorp by 2.3% in the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 244 shares in the last quarter. Finally, Capital Investment Advisory Services LLC raised its position in Fifth Third Bancorp by 1.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 251 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on FITB. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Fifth Third Bancorp in a research report on Monday, May 4th. Argus raised their price target on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Truist Financial set a $57.00 target price on Fifth Third Bancorp in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings cut Fifth Third Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $57.19.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $48.86 on Thursday. Fifth Third Bancorp has a 1 year low of $36.64 and a 1 year high of $55.44. The stock has a market cap of $44.28 billion, a PE ratio of 16.40, a P/E/G ratio of 0.97 and a beta of 0.94. The stock has a fifty day moving average price of $47.80 and a 200 day moving average price of $47.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s payout ratio is 53.69%.

Insiders Place Their Bets

In other news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president directly owned 189,382 shares of the company’s stock, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

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.