Mariner LLC Boosts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Mariner LLC boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,836 shares of the financial services provider’s stock after acquiring an additional 1,425 shares during the period. Mariner LLC owned about 0.05% of Fifth Third Bancorp worth $14,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $25,000. Sierra Ocean LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd raised its holdings in Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Citigroup dropped their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a research report on Monday, April 7th. Finally, Truist Financial lifted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.12.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Fifth Third Bancorp Trading Down 0.7 %

Shares of FITB opened at $34.15 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The stock has a 50-day moving average price of $39.35 and a 200 day moving average price of $42.71. The company has a market capitalization of $22.82 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $0.70 earnings per share. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.33%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.