Fifth Third Bancorp Has $30.79 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 843,774 shares of the financial services provider’s stock after selling 27,270 shares during the quarter. Fifth Third Bancorp owned approximately 0.12% of Fifth Third Bancorp worth $30,789,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp in the first quarter valued at $29,000. Centerpoint Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 750 shares in the last quarter. Blue Trust Inc. increased its position in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 914 shares during the last quarter. Mather Group LLC. bought a new stake in Fifth Third Bancorp during the first quarter worth about $56,000. Finally, Jones Financial Companies Lllp boosted its position in Fifth Third Bancorp by 327.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,675 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,283 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

FITB stock traded up $0.04 during trading hours on Wednesday, hitting $40.68. 2,796,030 shares of the stock were exchanged, compared to its average volume of 4,791,944. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $42.91. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $27.83 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a 50-day simple moving average of $38.58 and a two-hundred day simple moving average of $36.87.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business posted $0.87 earnings per share. On average, analysts forecast that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In other news, 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 transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, 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. Insiders have sold 34,500 shares of company stock valued at $1,429,920 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America boosted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Argus boosted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Friday, May 31st. StockNews.com raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $40.56.

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.