753,139 Shares in Fifth Third Bancorp $FITB Bought by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 753,139 shares of the financial services provider’s stock, valued at approximately $42,454,000. Edmond DE Rothschild Holding S.A. owned 0.08% of Fifth Third Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Clearstead Trust LLC bought a new position in shares of Fifth Third Bancorp during the second quarter worth about $29,000. Center for Financial Planning Inc. bought a new stake in Fifth Third Bancorp in the 1st quarter valued at about $25,000. SouthState Bank Corp lifted its position in Fifth Third Bancorp by 74.7% in 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. Monetary Solutions Ltd acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, Leonteq Securities AG acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $30,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Down 4.1%

FITB opened at $54.96 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $49.84 billion, a PE ratio of 18.44, a P/E/G ratio of 1.09 and a beta of 0.91. The stock’s fifty day moving average is $56.52 and its 200-day moving average is $51.92. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.01). The firm had revenue of $3.26 billion for 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 quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. On average, equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 54.61%.

Analyst Ratings Changes

Several brokerages have commented on FITB. UBS Group raised their price target on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Truist Financial boosted their price objective on Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on Fifth Third Bancorp from $61.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Robert W. Baird raised their target price on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Evercore set a $60.00 target price on Fifth Third Bancorp in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average price target 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.