Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Haverford Trust Co

Haverford Trust Co reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,802 shares of the financial services provider’s stock after selling 1,060 shares during the period. Haverford Trust Co’s holdings in Fifth Third Bancorp were worth $1,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the period. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $34,000. Hexagon Capital Partners LLC lifted its stake in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the period. Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the third quarter worth $53,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was 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 company insiders.

Fifth Third Bancorp Stock Up 0.1 %

Shares of NASDAQ FITB opened at $47.20 on Thursday. The firm has a market cap of $31.65 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21. Fifth Third Bancorp has a 52-week low of $25.94 and a 52-week high of $48.10. The company’s 50-day simple moving average is $43.28 and its 200-day simple moving average is $40.19. 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) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.14%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Argus raised 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. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Barclays raised their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI raised their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $42.28.

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.