50,518 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Axecap Investments LLC

Axecap Investments LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,518 shares of the financial services provider’s stock, valued at approximately $2,164,000. Fifth Third Bancorp comprises about 1.6% of Axecap Investments LLC’s portfolio, making the stock its 28th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the company. Aquila Investment Management LLC acquired a new stake in Fifth Third Bancorp during the third quarter worth approximately $428,000. Signaturefd LLC raised its holdings in Fifth Third Bancorp by 3.0% during the third quarter. Signaturefd LLC now owns 12,792 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 368 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Fifth Third Bancorp by 6.2% during the third quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 813 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Fifth Third Bancorp by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after purchasing an additional 399,827 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in Fifth Third Bancorp by 2.5% during the third quarter. Vest Financial LLC now owns 657,435 shares of the financial services provider’s stock worth $28,165,000 after purchasing an additional 15,873 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FITB. Jefferies Financial Group lifted their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Barclays lifted their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday. Bank of America lifted their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Argus lifted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.28.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $43.87 on Thursday. The stock has a market cap of $30.01 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $45.71. The company’s 50-day moving average price is $42.40 and its 200 day moving average price is $39.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. Fifth Third Bancorp’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, research analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.37%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.