Wellington Management Group LLP Has $19.35 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Wellington Management Group LLP lessened its position in Fifth Third Bancorp (NASDAQ:FITB) by 12.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 451,784 shares of the financial services provider’s stock after selling 64,282 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Fifth Third Bancorp worth $19,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Weiss Asset Management LP acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $1,337,000. Quantinno Capital Management LP raised its stake in shares of Fifth Third Bancorp by 17.1% during the third quarter. Quantinno Capital Management LP now owns 75,257 shares of the financial services provider’s stock worth $3,224,000 after buying an additional 10,991 shares during the last quarter. RBF Capital LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $231,000. Royal London Asset Management Ltd. increased its stake in Fifth Third Bancorp by 2.6% in the third quarter. Royal London Asset Management Ltd. now owns 263,429 shares of the financial services provider’s stock valued at $11,285,000 after purchasing an additional 6,725 shares in the last quarter. Finally, IHT Wealth Management LLC increased its stake in Fifth Third Bancorp by 57.7% in the third quarter. IHT Wealth Management LLC now owns 12,795 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 4,683 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Up 0.0 %

Shares of Fifth Third Bancorp stock opened at $45.55 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07. The stock has a market capitalization of $30.54 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 2.19 and a beta of 1.22. The company’s 50 day moving average price is $45.54 and its 200-day moving average price is $41.63.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FITB. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus price target of $44.81.

About Fifth Third Bancorp

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.