Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC reduced its stake in Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 3.0% in the 1st quarter, Holdings Channel reports. The firm owned 60,792 shares of the financial services provider’s stock after selling 1,899 shares during the quarter. CapWealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $2,616,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FITB. Verdence Capital Advisors LLC grew its stake in shares of Fifth Third Bancorp by 6.2% during the first quarter. Verdence Capital Advisors LLC now owns 39,545 shares of the financial services provider’s stock valued at $1,702,000 after acquiring an additional 2,309 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of Fifth Third Bancorp by 3.5% during the first quarter. Gilbert & Cook Inc. now owns 8,925 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 304 shares in the last quarter. First Personal Financial Services grew its stake in shares of Fifth Third Bancorp by 59.3% during the first quarter. First Personal Financial Services now owns 4,300 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 1,600 shares in the last quarter. WBI Investments Inc. acquired a new stake in shares of Fifth Third Bancorp during the first quarter valued at about $3,528,000. Finally, Wakefield Asset Management LLLP grew its stake in shares of Fifth Third Bancorp by 11.9% during the first quarter. Wakefield Asset Management LLLP now owns 8,239 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 876 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FITB shares. Wedbush raised their target price on Fifth Third Bancorp to $48.00 and gave the company a “na” rating in a research note on Tuesday, May 17th. Citigroup lowered their target price on Fifth Third Bancorp from $44.00 to $37.00 in a research note on Tuesday, July 12th. Jefferies Financial Group reduced their price target on shares of Fifth Third Bancorp from $47.00 to $39.00 in a research report on Monday, July 11th. Barclays reduced their price target on shares of Fifth Third Bancorp from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Morgan Stanley reduced their price target on shares of Fifth Third Bancorp from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 12th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.56.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $33.63 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $35.50 and its two-hundred day moving average price is $41.09. Fifth Third Bancorp has a 52-week low of $31.80 and a 52-week high of $50.64. The stock has a market capitalization of $22.99 billion, a P/E ratio of 10.16, a P/E/G ratio of 1.11 and a beta of 1.33.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.11). Fifth Third Bancorp had a return on equity of 12.99% and a net margin of 29.09%. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.66 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.57%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity

In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $36.93, for a total transaction of $92,325.00. Following the sale, the executive vice president now owns 45,844 shares of the company’s stock, valued at $1,693,018.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.

Fifth Third Bancorp Profile

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Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

See Also

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBGet Rating).

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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