Syon Capital LLC Purchases New Position in Fifth Third Bancorp (NASDAQ:FITB)

Syon Capital LLC acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,090 shares of the financial services provider’s stock, valued at approximately $383,000.

Several other institutional investors have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. raised its stake in Fifth Third Bancorp by 5.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,528 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 948 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $203,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Fifth Third Bancorp by 11.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 8,121 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 820 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $199,000. Finally, Sage Mountain Advisors LLC grew its stake in Fifth Third Bancorp by 2.8% during the 4th quarter. Sage Mountain Advisors LLC now owns 32,376 shares of the financial services provider’s stock worth $1,117,000 after buying an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $36.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $35.54 and its two-hundred day moving average is $32.22. The stock has a market capitalization of $25.13 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.39 and a beta of 1.27. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter in the prior year, the company posted $0.78 earnings per share. Research analysts expect that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,357 shares of company stock worth $1,693,888. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

FITB has been the subject of a number of research reports. UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.31.

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.