Argyle Capital Management Inc. boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 326.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,000 shares of the financial services provider’s stock after buying an additional 37,500 shares during the period. Argyle Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $862,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of FITB. Duncker Streett & Co. Inc. boosted its position in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock valued at $113,000 after buying an additional 20 shares in the last quarter. Brick & Kyle Associates boosted its position in shares of Fifth Third Bancorp by 46.1% in the first quarter. Brick & Kyle Associates now owns 6,660 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,100 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Fifth Third Bancorp during the first quarter valued at about $112,000. Atria Investments LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter valued at about $179,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Fifth Third Bancorp during the first quarter valued at about $178,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 2.20% on Monday, hitting $20.46. The company had a trading volume of 7,876,182 shares. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $21.14. The stock’s 50-day moving average is $19.91 and its 200 day moving average is $18.36. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 9.97 and a beta of 1.27.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same quarter in the prior year, the company earned $0.36 EPS. Equities analysts expect that Fifth Third Bancorp will post $1.60 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, September 28th. Fifth Third Bancorp’s payout ratio is currently 25.49%.
Several analysts recently weighed in on FITB shares. Nomura reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Wells Fargo & Co. reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, June 4th. FBR & Co reiterated a “hold” rating and issued a $20.00 price target on shares of Fifth Third Bancorp in a report on Friday, July 29th. Finally, Citigroup Inc. lifted their price target on shares of Fifth Third Bancorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, June 6th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.50.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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