HL Financial Services LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,442 shares of the financial services provider’s stock after buying an additional 4,061 shares during the period. HL Financial Services LLC’s holdings in Fifth Third Bancorp were worth $1,864,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Advisor Group Inc. boosted its holdings in Fifth Third Bancorp by 19.7% during the third quarter. Advisor Group Inc. now owns 36,589 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 6,033 shares in the last quarter. Pegasus Partners Ltd. boosted its holdings in Fifth Third Bancorp by 69.5% during the third quarter. Pegasus Partners Ltd. now owns 186,989 shares of the financial services provider’s stock worth $5,232,000 after buying an additional 76,647 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Fifth Third Bancorp by 14.4% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 992,727 shares of the financial services provider’s stock worth $27,777,000 after buying an additional 125,124 shares in the last quarter. Korea Investment CORP boosted its holdings in Fifth Third Bancorp by 2.2% during the third quarter. Korea Investment CORP now owns 269,823 shares of the financial services provider’s stock worth $7,550,000 after buying an additional 5,700 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Fifth Third Bancorp during the third quarter worth approximately $642,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.
A number of analysts recently weighed in on FITB shares. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. BidaskClub upgraded shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday. Bank of America raised their price objective on shares of Fifth Third Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Finally, Morgan Stanley raised their price objective on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $30.70.
Fifth Third Bancorp (NASDAQ:FITB) last issued its 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. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.58 billion. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. During the same quarter last year, the business posted $0.49 EPS. equities research analysts expect that Fifth Third Bancorp will post 2.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 22.46%.
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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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