Hsbc Holdings PLC Purchases 279,596 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hsbc Holdings PLC boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,276,130 shares of the financial services provider's stock after purchasing an additional 279,596 shares during the quarter. Hsbc Holdings PLC owned about 0.34% of Fifth Third Bancorp worth $96,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter worth $263,000. Wilmington Savings Fund Society FSB bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth about $191,000. Tidal Investments LLC increased its holdings in shares of Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock worth $1,069,000 after purchasing an additional 2,265 shares during the period. Franklin Resources Inc. lifted its stake in shares of Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after buying an additional 409,292 shares during the period. Finally, 1ST Source Bank acquired a new stake in Fifth Third Bancorp during the third quarter worth about $211,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target on the stock in a research note on Monday, April 7th. 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. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Barclays cut their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.24.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 19th. The shares were 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 of the company's stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company'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 sale, the executive vice president now owns 130,856 shares of the company's stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB traded down $0.50 on Friday, hitting $35.28. 3,219,995 shares of the company were exchanged, compared to its average volume of 4,490,591. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market cap of $23.57 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The firm has a 50 day moving average of $38.25 and a two-hundred day moving average of $42.41.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. 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 analyst estimates of $2.17 billion. During the same quarter last year, the business posted $0.70 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current 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 issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is 46.98%.

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.