Two Sigma Securities LLC Has $5.15 Million Stock Holdings in Fifth Third Bancorp $FITB

Two Sigma Securities LLC boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 343.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,357 shares of the financial services provider’s stock after purchasing an additional 70,746 shares during the period. Two Sigma Securities LLC’s holdings in Fifth Third Bancorp were worth $5,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FITB. Clearstead Trust LLC acquired a new position in shares of Fifth Third Bancorp during the second quarter worth $29,000. Center for Financial Planning Inc. bought a new stake in Fifth Third Bancorp during the 1st quarter worth $25,000. SouthState Bank Corp grew its position in Fifth Third Bancorp by 74.7% during the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Monetary Solutions Ltd acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Finally, Leonteq Securities AG acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.1%

Fifth Third Bancorp stock opened at $54.57 on Monday. The firm has a market cap of $49.49 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.09 and a beta of 0.91. Fifth Third Bancorp has a 52-week low of $40.04 and a 52-week high of $59.50. 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 firm has a 50 day moving average price of $56.74 and a two-hundred day moving average price of $52.00.

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 analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given 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 2.9%. Fifth Third Bancorp’s dividend payout ratio is 54.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FITB shares. Evercore set a $60.00 price target on Fifth Third Bancorp in a research note on Monday, July 6th. Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Truist Financial lifted their target price on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Morgan Stanley boosted their target price on shares of Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.54.

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.