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Fifth Third Buys Comerica for $10.9B in Year’s Biggest Bank Deal. Which Firms Might Be Next.
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Tag: FITB
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QRG Capital Management Inc. Boosts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)
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QRG Capital Management Inc. increased its position in Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 15.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,858 shares of the financial services provider’s stock after acquiring an additional 9,444 shares during the quarter. QRG Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $3,078,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Park National Corp OH increased its stake 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 purchasing an additional 5,411 shares in the last quarter. M&G Plc purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth $1,254,000. Plato Investment Management Ltd bought a new stake in Fifth Third Bancorp during the first quarter valued at about $639,000. Russell Investments Group Ltd. lifted its position in shares of Fifth Third Bancorp by 9.1% in the first quarter. Russell Investments Group Ltd. now owns 313,324 shares of the financial services provider’s stock valued at $11,657,000 after acquiring an additional 26,194 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Fifth Third Bancorp by 2.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 827,625 shares of the financial services provider’s stock valued at $30,796,000 after buying an additional 18,208 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on FITB shares. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Argus increased their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.28.
Check Out Our Latest Stock Analysis on Fifth Third Bancorp
Fifth Third Bancorp Stock Performance
Shares of Fifth Third Bancorp stock opened at $46.87 on Thursday. Fifth Third Bancorp has a 52 week low of $24.64 and a 52 week high of $46.90. The company has a market capitalization of $31.72 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.21. The stock’s fifty day moving average is $42.95 and its two-hundred day moving average is $39.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. As a group, analysts expect that Fifth Third Bancorp will post 3.33 earnings per share for the current year.
Fifth Third Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.16%. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.
Insider Buying and Selling at Fifth Third Bancorp
In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.
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.
See Also
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ABMN Staff
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8 value stocks that look like bargains for long-term investors
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When is it a good time to buy stocks? Some investors would say the current negativity dominating the financial media means you are better off sitting on the sidelines. Others would say it is always a good time to buy stocks, provided you can get them for good prices.
Count John Buckingham, editor of the Prudent Speculator, in the latter camp. He is a value investor with decades of experience. During an interview, he emphasized the importance of remaining disciplined through all market conditions. While he favors the value…
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10 dividend stocks yielding at least 4.5% that are rated ‘buy’ by most analysts
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During a period of high interest rates, it might be more difficult to impress investors with dividend stocks. But the stocks can have an important advantage over the long term. The dividend payouts can increase over the years, helping to push share prices higher over time.
When considering stocks for dividend income, yield shouldn’t be the only thing you consider. If a stock’s price has tumbled because investors are worried about the company’s business prospects, the dividend yield might be very high. A double-digit yield might mean investors expect to see a cut to the dividend soon.
There are many ways to look at companies’ expected ability to maintain or raise their dividend payouts. But one can also take a simple approach to begin researching stock choices.
At the moment, you can get a bank CD with a yield of close to 5% pretty easily. Here’s a look at current yields for CDs and U.S. Treasury securities and an approach for laddering them not only to protect your cash but to hedge against interest-rate risk.
For investors who would rather aim for long-term growth to go along with dividend income, or take a relatively conservative approach to growth while reinvesting dividends, a screen of stocks in the S&P 500
SPX,
+0.33%
produces only 10 stocks with dividend yields of 4.5% or higher with majority “buy” or equivalent ratings among analysts polled by FactSet. Here they are, sorted by dividend yield:Company Ticker Dividend Yield Expected payout increase through 2025 Share “buy” ratings April 16 price Consensus price target implied 12-month upside potential Comerica Inc. CMA,
+4.00% 6.56% 10% 58% $43.30 $60.53 40% Citizens Financial Group Inc. CFG,
+4.19% 5.77% 12% 74% $29.10 $39.29 35% Healthpeak Properties Inc. PEAK,
+2.33% 5.71% 9% 60% $21.01 $27.69 32% Hasbro Inc. HAS,
+1.28% 5.34% 8% 69% $52.40 $69.27 32% Philip Morris International Inc. PM,
+0.46% 5.11% 11% 67% $99.48 $113.56 14% Realty Income Corp. O,
+1.30% 5.04% 7% 56% $60.77 $70.00 15% Fifth Third Bancorp FITB,
+3.33% 4.99% 3% 72% $26.44 $34.55 31% VICI Properties Inc. VICI,
+1.58% 4.82% 12% 95% $32.35 $37.73 17% Organon & Co. OGN,
+1.01% 4.71% 5% 55% $23.80 $31.89 34% Iron Mountain Inc. IRM,
+0.82% 4.69% 15% 78% $52.76 $56.00 6% Source: FactSet Click on the ticker for more about each company.
Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
The dividend yields for this group of 10 companies are based on current annual regular payout rates, with all paying quarterly except for Realty Income Corp.
O,
+1.30% ,
which pays monthly.These two oil and natural gas producers would have passed the above screen based on their most recent dividend payments and analysts’ sentiment, however, they pay a combined fixed-plus-variable dividend every quarter, with the fixed portion relatively low:
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Shares of Pioneer Natural Resources Co.
PXD,
-0.77%
closed at $230 on April 14. Among analysts polled by FactSet, 59% rate the stock a “buy” or the equivalent, and the consensus price target is $257.42. The company pays a fixed quarterly dividend of $1.10 a share, which would make for a dividend yield of only 1.91%. However, the most recent variable quarterly dividend was $4.48 a share, for a combined quarterly dividend of $5.58, which would translate to an annualized dividend yield of 9.70%. The consensus estimate for dividends in 2025 is $4.63 — the analysts are only estimating the fixed portion of the dividend. Pioneer has held preliminary merger discussions with Exxon Corp.
XOM,
-1.16% ,
according to a Wall Street Journal report. -
Devon Energy Corp.’s
DVN,
-0.72%
stock closed at $55.70 on April 14. The shares are rated “buy” or the equivalent by 55% of analysts and the consensus price target is $67.66. The fixed portion of Devon’s quarterly dividend is 20 cents a share, for an annualized dividend yield of 1.44%. The variable portion of the most recent quarterly dividend was 69 cents a share. The total payout of 89 cents would make for an annual dividend yield of 6.39%. Analysts expect the fixed portion of annual dividends to total $3.61 in 2025, according to FactSet.
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Shares of Pioneer Natural Resources Co.
