J. Safra Sarasin Holding AG Invests $2.54 Million in Fifth Third Bancorp (NASDAQ:FITB)

J. Safra Sarasin Holding AG purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,066 shares of the financial services provider's stock, valued at approximately $2,540,000.

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

Fifth Third Bancorp Stock Performance

Shares of FITB stock traded down $0.50 during trading hours on Friday, reaching $35.28. The stock had a trading volume of 3,219,995 shares, compared to its average volume of 4,490,591. The firm has a market capitalization of $23.57 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The firm has a 50-day simple moving average of $38.25 and a 200-day simple moving average of $42.40. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $2.17 billion. During the same period last year, the firm posted $0.70 earnings per share. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is presently 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. DA Davidson lowered their price target on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company cut their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Robert W. Baird raised shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price for the company in a research note on Monday, April 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Piper Sandler reiterated an "overweight" rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.24.

Fifth Third Bancorp 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.