Navigation Group LLC Acquires Shares of 8,648 Fifth Third Bancorp $FITB

Navigation Group LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,648 shares of the financial services provider’s stock, valued at approximately $402,000.

Other institutional investors also recently modified their holdings of the company. Center for Financial Planning Inc. bought a new position in Fifth Third Bancorp in the 1st quarter valued at $25,000. SouthState Bank Corp increased its position in shares of Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of 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 worth $29,000 after purchasing an additional 517 shares during the period. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $29,000. Finally, Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $30,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $58.02 on Thursday. The firm has a market capitalization of $52.59 billion, a PE ratio of 19.47, a P/E/G ratio of 1.09 and a beta of 0.90. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $52.65 and a two-hundred day moving average price of $50.48. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $58.51.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. Fifth Third Bancorp’s payout ratio is presently 53.69%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Fifth Third Bancorp from $54.50 to $61.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $58.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Wolfe Research reduced their price objective on Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.11.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the 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. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.