Moody National Bank Trust Division boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 907.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 169,058 shares of the financial services provider’s stock after buying an additional 152,285 shares during the period. Moody National Bank Trust Division’s holdings in Fifth Third Bancorp were worth $4,720,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. MUFG Americas Holdings Corp purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $103,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Fifth Third Bancorp by 8,368.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,933 shares during the period. Centaurus Financial Inc. purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $131,000. First Mercantile Trust Co. purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $149,000. Finally, Regentatlantic Capital LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $207,000. Institutional investors own 84.19% of the company’s stock.
Fifth Third Bancorp stock opened at $27.36 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $18.03 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. Fifth Third Bancorp has a 1-year low of $24.10 and a 1-year high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. During the same quarter last year, the firm earned $1.35 EPS. As a group, equities research analysts expect that Fifth Third Bancorp will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a $0.18 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.63%. Fifth Third Bancorp’s payout ratio is 26.87%.
A number of brokerages have recently issued reports on FITB. Raymond James upgraded Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Wednesday. They noted that the move was a valuation call. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies set a $31.00 price target on Fifth Third Bancorp and gave the company a “hold” rating in a report on Monday, October 29th. BMO Capital Markets cut their price target on Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, October 24th. Finally, Nomura upgraded Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and cut their price target for the company from $32.00 to $29.00 in a report on Wednesday, October 24th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.31.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. 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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