Mather Group LLC. Invests $56,000 in Fifth Third Bancorp (NASDAQ:FITB)

Mather Group LLC. acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,622 shares of the financial services provider’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FITB. Capital World Investors lifted its stake in Fifth Third Bancorp by 34.2% in the 4th quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after purchasing an additional 10,472,392 shares during the last quarter. Norges Bank bought a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $257,189,000. Smead Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $67,354,000. Boston Partners increased its holdings in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after purchasing an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Fifth Third Bancorp by 341.8% during the fourth quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after purchasing an additional 1,492,124 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $36.06 on Monday. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $39.14. The firm has a market capitalization of $24.67 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24. The firm has a fifty day simple moving average of $36.77 and a two-hundred day simple moving average of $35.42. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the business posted $0.78 EPS. Analysts forecast that Fifth Third Bancorp will post 3.26 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FITB shares. Stephens reissued an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. DA Davidson raised their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. UBS Group restated a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $37.21.

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.