Y Intercept Hong Kong Ltd Purchases 159,866 Shares of Fifth Third Bancorp $FITB

Y Intercept Hong Kong Ltd increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 3,542.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 164,379 shares of the financial services provider’s stock after buying an additional 159,866 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Fifth Third Bancorp were worth $7,695,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its holdings in shares of Fifth Third Bancorp by 4.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 187 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Fifth Third Bancorp by 3.1% during the fourth 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 last quarter. Keybank National Association OH raised its holdings in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after purchasing an additional 214 shares during the last quarter. Austin Private Wealth LLC raised its holdings in shares of Fifth Third Bancorp by 2.7% during the fourth quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 228 shares during the last quarter. Finally, Ignite Planners LLC raised its holdings in shares of Fifth Third Bancorp by 5.3% during the fourth quarter. Ignite Planners LLC now owns 4,815 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 244 shares during the last quarter. 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 research reports. Zacks Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Robert W. Baird raised their target price on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Financial Group raised their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Wolfe Research reduced their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Fifth Third Bancorp in a report on Monday, May 4th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $57.29.

Insider Activity

In other news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the sale, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. This trade represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Up 2.4%

FITB stock opened at $54.71 on Friday. The firm has a market cap of $49.59 billion, a PE ratio of 18.36, a P/E/G ratio of 1.09 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s fifty day moving average is $49.83 and its 200 day moving average is $48.87. Fifth Third Bancorp has a one year low of $37.86 and a one year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter last year, the business earned $0.71 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Fifth Third Bancorp Company 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.