Thurston Springer Miller Herd & Titak Inc. Grows Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 17.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,404 shares of the financial services provider’s stock after purchasing an additional 1,695 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Fifth Third Bancorp were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Fifth Third Bancorp by 13.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after buying an additional 55,081 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in Fifth Third Bancorp during the third quarter worth $541,000. Nordea Investment Management AB raised its holdings in shares of Fifth Third Bancorp by 8.9% in the fourth quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock worth $28,286,000 after acquiring an additional 54,463 shares during the last quarter. Finally, First National Trust Co boosted its stake in shares of Fifth Third Bancorp by 44.9% during the third quarter. First National Trust Co now owns 77,099 shares of the financial services provider’s stock valued at $3,303,000 after acquiring an additional 23,890 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 2.6 %

Shares of Fifth Third Bancorp stock opened at $44.00 on Thursday. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average price of $45.17 and a 200 day moving average price of $42.75.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on FITB shares. Truist Financial assumed coverage on shares of Fifth Third Bancorp in a research note on Tuesday, January 7th. They issued a “buy” rating and a $51.00 target price for the company. Evercore ISI boosted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average price target of $45.92.

Fifth Third Bancorp Company Profile

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.