Claybrook Capital LLC purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,077 shares of the financial services provider’s stock, valued at approximately $237,000.
A number of other institutional investors have also added to or reduced their stakes in FITB. MUFG Securities EMEA plc purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $6,313,000. LMR Partners LLP raised its position in Fifth Third Bancorp by 116.8% during the fourth quarter. LMR Partners LLP now owns 993,029 shares of the financial services provider’s stock valued at $23,366,000 after acquiring an additional 535,039 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Fifth Third Bancorp by 0.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,256,200 shares of the financial services provider’s stock valued at $29,558,000 after acquiring an additional 9,200 shares in the last quarter. Geode Capital Management LLC raised its position in Fifth Third Bancorp by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 9,475,947 shares of the financial services provider’s stock valued at $222,615,000 after acquiring an additional 574,887 shares in the last quarter. Finally, Kinneret Advisory LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $80,000. Institutional investors own 82.08% of the company’s stock.
Shares of NASDAQ:FITB opened at $28.41 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $18.07 billion, a PE ratio of 11.19, a PEG ratio of 1.30 and a beta of 1.33. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. During the same period in the previous year, the company posted $0.48 earnings per share. Research analysts anticipate that Fifth Third Bancorp will post 2.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, March 28th. Fifth Third Bancorp’s dividend payout ratio is presently 34.65%.
FITB has been the subject of several recent research reports. Vining Sparks reiterated a “buy” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, January 22nd. Raymond James set a $30.00 price objective on Fifth Third Bancorp and gave the company a “buy” rating in a report on Wednesday, January 23rd. Citigroup raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $37.00 to $29.00 in a report on Wednesday, January 9th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, January 8th. Finally, Barclays dropped their price objective on Fifth Third Bancorp from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.27.
In other news, EVP Frank R. Forrest sold 26,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following the sale, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.
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About Fifth Third Bancorp
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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