Capital Research Global Investors Increases Position in Fifth Third Bancorp $FITB

Capital Research Global Investors raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,719,002 shares of the financial services provider’s stock after acquiring an additional 295,490 shares during the period. Capital Research Global Investors owned approximately 0.87% of Fifth Third Bancorp worth $254,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FITB. Wealthquest Corp raised its holdings in Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC boosted its position in shares of Fifth Third Bancorp by 3.9% during the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after buying an additional 250 shares during the period. Capital Investment Advisory Services LLC grew its holdings 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 worth $1,011,000 after buying an additional 251 shares in the last quarter. CENTRAL TRUST Co increased its position in Fifth Third Bancorp by 4.1% in the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 260 shares during the period. Finally, Foster & Motley Inc. raised its stake in Fifth Third Bancorp by 1.7% during the 3rd quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 265 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $46.59 on Wednesday. The firm’s fifty day simple moving average is $50.63 and its 200 day simple moving average is $46.62. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The firm has a market capitalization of $42.02 billion, a PE ratio of 13.16, a PEG ratio of 0.95 and a beta of 0.96.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada increased their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Argus increased their target price on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating and set a $59.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Evercore increased their price objective on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.91.

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.