Czech National Bank Buys 12,847 Shares of Fifth Third Bancorp $FITB

Czech National Bank increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 257,971 shares of the financial services provider’s stock after purchasing an additional 12,847 shares during the quarter. Czech National Bank’s holdings in Fifth Third Bancorp were worth $14,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Cullen Frost Bankers Inc. lifted its position 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 worth $199,000 after acquiring an additional 187 shares during the period. Equitable Holdings Inc. grew its holdings in shares of 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 purchasing an additional 195 shares in the last quarter. Basecamp Wealth Advisors LLC increased its position in shares of Fifth Third Bancorp by 5.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 3,869 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 201 shares during the period. Koshinski Asset Management Inc. increased its position in shares of 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. Finally, Legacy Wealth Managment LLC ID raised its stake in shares of 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. 83.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FITB. DA Davidson raised their target price on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Stephens initiated coverage on shares of Fifth Third Bancorp in a research note on Monday, June 15th. They issued an “equal weight” rating and a $58.00 price objective for the company. Bank of America increased their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. One investment 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.54.

Fifth Third Bancorp Trading Up 0.1%

Shares of Fifth Third Bancorp stock opened at $57.01 on Friday. Fifth Third Bancorp has a 12-month low of $40.04 and a 12-month high of $59.50. The stock has a market capitalization of $51.67 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. The company has a 50-day simple moving average of $55.55 and a 200 day simple moving average of $51.53. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results 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). The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

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

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.