New England Research & Management Inc. bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,800 shares of the financial services provider’s stock, valued at approximately $692,000.
Several other large investors have also modified their holdings of FITB. Horan Capital Advisors LLC. acquired a new position in Fifth Third Bancorp in the third quarter valued at $102,000. Valeo Financial Advisors LLC acquired a new position in Fifth Third Bancorp in the third quarter valued at $119,000. Sun Life Financial INC raised its holdings in shares of Fifth Third Bancorp by 55,050.0% during the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 5,505 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at about $202,000. Finally, Regentatlantic Capital LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at about $205,000. Institutional investors own 83.95% of the company’s stock.
Shares of Fifth Third Bancorp (FITB) opened at $33.10 on Thursday. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $33.59. The company has a market cap of $23,350.00, a PE ratio of 11.61, a PEG ratio of 2.19 and a beta of 1.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $0.49 EPS. research analysts predict that Fifth Third Bancorp will post 2.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.64 annualized dividend and a yield of 1.93%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 22.46%.
Several equities analysts have recently weighed in on FITB shares. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. UBS Group reaffirmed a “sell” rating and issued a $26.00 price objective (up from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Macquarie downgraded shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $28.47 to $26.00 in a research report on Friday, November 17th. Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.70.
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Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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