Kestra Advisory Services LLC raised its position in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,911 shares of the financial services provider’s stock after acquiring an additional 12,689 shares during the quarter. Kestra Advisory Services LLC’s holdings in Fifth Third Bancorp were worth $2,266,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FITB. Park Avenue Securities LLC raised its position in Fifth Third Bancorp by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 59,058 shares of the financial services provider’s stock valued at $1,887,000 after purchasing an additional 1,880 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Fifth Third Bancorp by 6.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 437,657 shares of the financial services provider’s stock valued at $13,988,000 after purchasing an additional 28,285 shares in the last quarter. Graypoint LLC lifted its position in shares of Fifth Third Bancorp by 1.5% during the 3rd quarter. Graypoint LLC now owns 39,857 shares of the financial services provider’s stock worth $1,274,000 after purchasing an additional 605 shares during the last quarter. Pinnacle Financial Partners Inc. acquired a new position in shares of Fifth Third Bancorp during the third quarter worth $279,000. Finally, International Assets Investment Management LLC purchased a new position in Fifth Third Bancorp in the third quarter valued at $146,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently commented on FITB. Barclays dropped their price objective on Fifth Third Bancorp from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of Fifth Third Bancorp from $37.50 to $39.00 in a report on Wednesday, November 2nd. DA Davidson assumed coverage on shares of Fifth Third Bancorp in a research note on Tuesday, December 20th. They set a “neutral” rating and a $36.00 price target on the stock. Morgan Stanley restated an “equal weight” rating and issued a $37.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, December 5th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Fifth Third Bancorp from $44.00 to $37.00 in a research report on Friday, January 6th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.57.
Fifth Third Bancorp Price Performance
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Fifth Third Bancorp had a return on equity of 13.98% and a net margin of 27.47%. During the same period in the prior year, the company earned $0.90 earnings per share. Research analysts predict that Fifth Third Bancorp will post 3.43 earnings per share for the current year.
Fifth Third Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, December 29th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 40.62%.
Insider Buying and Selling
In related news, EVP Robert P. Shaffer sold 10,209 shares of Fifth Third Bancorp stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $35.76, for a total transaction of $365,073.84. Following the completion of the transaction, the executive vice president now directly owns 69,534 shares of the company’s stock, valued at $2,486,535.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.
About Fifth Third Bancorp
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.
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