Davis Selected Advisers Increases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Davis Selected Advisers lifted its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,497,371 shares of the financial services provider’s stock after purchasing an additional 29,947 shares during the quarter. Davis Selected Advisers owned 0.37% of Fifth Third Bancorp worth $63,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FITB. Charles Schwab Investment Management Inc. increased its position in Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after acquiring an additional 393,937 shares during the last quarter. Raymond James & Associates increased its position in Fifth Third Bancorp by 17.0% in the third quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock worth $14,994,000 after buying an additional 85,981 shares in the last quarter. National Bank of Canada FI increased its position in Fifth Third Bancorp by 460.8% in the third quarter. National Bank of Canada FI now owns 675,898 shares of the financial services provider’s stock worth $16,559,000 after buying an additional 555,375 shares in the last quarter. Czech National Bank increased its position in Fifth Third Bancorp by 47.7% in the third quarter. Czech National Bank now owns 119,005 shares of the financial services provider’s stock worth $3,014,000 after buying an additional 38,421 shares in the last quarter. Finally, State Street Corp increased its position in Fifth Third Bancorp by 2.3% in the second quarter. State Street Corp now owns 31,753,969 shares of the financial services provider’s stock worth $842,650,000 after buying an additional 709,615 shares in the last quarter. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Fifth Third Bancorp Trading Up 0.4 %

Shares of NASDAQ FITB opened at $33.78 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $33.89 and its 200-day moving average price is $28.86. Fifth Third Bancorp has a fifty-two week low of $22.11 and a fifty-two week high of $37.51. The company has a market cap of $23.00 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.28 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period in the prior year, the business posted $1.04 earnings per share. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.18 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.40 annualized dividend and a yield of 4.14%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays upped their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. UBS Group upped their price objective on Fifth Third Bancorp from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 20th. Morgan Stanley increased their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their price target on Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.63.

View Our Latest Research Report on FITB

About Fifth Third Bancorp

(Free Report)

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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