OLD Second National Bank of Aurora Grows Stock Position in Fifth Third Bancorp $FITB

OLD Second National Bank of Aurora increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 36.6% in the 1st quarter, HoldingsChannel reports. The firm owned 81,906 shares of the financial services provider’s stock after purchasing an additional 21,932 shares during the period. OLD Second National Bank of Aurora’s holdings in Fifth Third Bancorp were worth $3,805,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Harbor Investment Advisory LLC raised its position in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. Monetary Solutions Ltd acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Leonteq Securities AG acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $30,000. Reflection Asset Management purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $30,000. Finally, EFG International AG acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FITB shares. Truist Financial lifted their price target on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Wolfe Research decreased their price objective on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group boosted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $57.74.

Fifth Third Bancorp Price Performance

FITB stock opened at $56.47 on Friday. The business has a 50 day moving average price of $50.90 and a 200 day moving average price of $49.59. The stock has a market cap of $51.18 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.09 and a beta of 0.92. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $56.77. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating 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 analyst estimates of $2.91 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Insiders Place Their Bets

In related news, 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 transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp 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 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Company Profile

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.