Caprock Group LLC Invests $466,000 in Fifth Third Bancorp (NASDAQ:FITB)

Caprock Group LLC purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,385 shares of the financial services provider’s stock, valued at approximately $466,000.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of Fifth Third Bancorp by 57.5% during the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after purchasing an additional 269,152 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after purchasing an additional 393,937 shares in the last quarter. Natixis Advisors L.P. increased its stake in shares of Fifth Third Bancorp by 4.3% during the third quarter. Natixis Advisors L.P. now owns 671,803 shares of the financial services provider’s stock worth $17,017,000 after buying an additional 27,610 shares during the period. Raymond James & Associates increased its stake in shares of Fifth Third Bancorp by 17.0% during the third quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock worth $14,994,000 after buying an additional 85,981 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Fifth Third Bancorp by 460.8% during the third quarter. National Bank of Canada FI now owns 675,898 shares of the financial services provider’s stock worth $16,559,000 after buying an additional 555,375 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $37.21 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm has a market cap of $25.35 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company’s 50 day simple moving average is $34.89 and its 200-day simple moving average is $30.86. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities analysts predict that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FITB. Barclays upped their target price on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.72.

Check Out Our Latest Stock Analysis on FITB

Fifth Third Bancorp Company Profile

(Free Report)

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.

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

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