Brooklyn Investment Group Invests $121,000 in Fifth Third Bancorp (NASDAQ:FITB)

Brooklyn Investment Group bought a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,836 shares of the financial services provider’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Park National Corp OH lifted its stake in shares of Fifth Third Bancorp by 15.0% in the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 5,411 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares in the last quarter. M&G Plc acquired a new position in shares of Fifth Third Bancorp in the second quarter worth about $1,254,000. Plato Investment Management Ltd acquired a new position in shares of Fifth Third Bancorp in the first quarter worth about $639,000. Finally, BDF Gestion acquired a new position in shares of Fifth Third Bancorp in the second quarter worth about $3,837,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on FITB shares. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays upped their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $43.62.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $48.16 on Thursday. Fifth Third Bancorp has a 12-month low of $26.89 and a 12-month high of $49.07. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. The business has a 50 day simple moving average of $44.52 and a 200 day simple moving average of $40.92. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.