Sapient Capital LLC Has $10.21 Million Holdings in Fifth Third Bancorp $FITB

Sapient Capital LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 18.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,033 shares of the financial services provider’s stock after selling 48,146 shares during the quarter. Sapient Capital LLC’s holdings in Fifth Third Bancorp were worth $10,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its stake in shares of Fifth Third Bancorp by 4.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 187 shares during the last quarter. Equitable Holdings Inc. boosted its stake in Fifth Third Bancorp by 4.1% during the 4th quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 195 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Fifth Third Bancorp by 3.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 206 shares during the period. Legacy Wealth Managment LLC ID increased its stake in Fifth Third Bancorp by 19.2% in the first quarter. Legacy Wealth Managment LLC ID now owns 1,319 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 212 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in Fifth Third Bancorp by 0.3% in the fourth quarter. Keybank National Association OH now owns 64,416 shares of the financial services provider’s stock worth $3,015,000 after purchasing an additional 214 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.1%

Shares of NASDAQ:FITB opened at $56.55 on Monday. Fifth Third Bancorp has a 12 month low of $40.04 and a 12 month high of $59.50. 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’s fifty day simple moving average is $54.80 and its 200 day simple moving average is $51.25. The firm has a market cap of $51.25 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 54.61%.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Zacks Research cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on Fifth Third Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Argus raised Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $60.54.

Fifth Third Bancorp 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.