J. Safra Sarasin Holding AG Purchases Shares of 60,066 Fifth Third Bancorp (NASDAQ:FITB)

J. Safra Sarasin Holding AG acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 60,066 shares of the financial services provider’s stock, valued at approximately $2,540,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FITB. Norges Bank purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $371,836,000. PL Capital Advisors LLC increased its stake in shares of Fifth Third Bancorp by 4,128.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock worth $78,654,000 after buying an additional 1,816,320 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at $53,508,000. First Trust Advisors LP increased its position in shares of Fifth Third Bancorp by 12.1% in the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider’s stock valued at $402,991,000 after acquiring an additional 1,027,044 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $38,971,000. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 2.4 %

FITB stock opened at $33.32 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The business’s 50-day moving average is $38.95 and its two-hundred day moving average is $42.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $22.26 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same quarter last year, the company earned $0.70 earnings per share. As a group, analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.44%. Fifth Third Bancorp’s payout ratio is 46.98%.

Analysts Set New Price Targets

FITB has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays decreased their target price on Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday. Baird R W upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, DA Davidson decreased their price target on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.71.

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.