Rockefeller Capital Management L.P. Acquires 597,546 Shares of Fifth Third Bancorp $FITB

Rockefeller Capital Management L.P. lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 51.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,751,834 shares of the financial services provider’s stock after buying an additional 597,546 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Fifth Third Bancorp were worth $82,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC boosted its holdings in Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares during the period. Monetary Solutions Ltd purchased a new stake in Fifth Third Bancorp in the fourth quarter worth $29,000. Leonteq Securities AG bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $30,000. Reflection Asset Management bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $30,000. Finally, EFG International AG purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $33,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB stock opened at $52.82 on Friday. Fifth Third Bancorp has a 1-year low of $38.91 and a 1-year high of $55.44. The business has a 50-day moving average price of $50.35 and a 200 day moving average price of $49.22. The company has a market capitalization of $47.87 billion, a P/E ratio of 17.72, a PEG ratio of 1.09 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the business earned $0.71 EPS. As a group, equities research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 53.69%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Morgan Stanley dropped their target price on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. DA Davidson reaffirmed a “buy” rating and set a $58.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.34.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the sale, the executive vice president directly owned 76,299 shares in the company, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.51% of the company’s stock.

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.