Waterloo Capital L.P. Purchases 6,085 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Waterloo Capital L.P. lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,363 shares of the financial services provider’s stock after buying an additional 6,085 shares during the period. Waterloo Capital L.P.’s holdings in Fifth Third Bancorp were worth $3,042,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Morningstar Investment Management LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $2,257,000. Bank of Nova Scotia boosted its stake in shares of Fifth Third Bancorp by 31.6% in the 4th quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock worth $3,056,000 after buying an additional 21,251 shares during the last quarter. Park National Corp OH grew its holdings in shares of Fifth Third Bancorp by 15.0% in the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 5,411 shares during the period. rhino investment partners Inc increased its position in Fifth Third Bancorp by 20.1% during the fourth quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock valued at $44,891,000 after acquiring an additional 217,956 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Fifth Third Bancorp by 8.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock valued at $10,043,000 after acquiring an additional 21,612 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $42.51 on Wednesday. The firm has a market cap of $29.08 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.93 and a beta of 1.22. The firm has a fifty day moving average price of $40.85 and a 200 day moving average price of $38.02. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $43.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the previous year, the business earned $0.87 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.48%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FITB shares. Evercore ISI reduced their price target on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group increased their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Finally, Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.56.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here. In the last three months, insiders sold 54,500 shares of company stock valued at $2,269,920. Insiders own 0.50% of the company’s stock.

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.