Sequoia Financial Advisors LLC Has $532,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Sequoia Financial Advisors LLC decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 8.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,416 shares of the financial services provider’s stock after selling 1,393 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. raised its position in shares of Fifth Third Bancorp by 1.4% in the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 502 shares in the last quarter. Aviva PLC raised its position in shares of Fifth Third Bancorp by 22.0% in the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock valued at $11,008,000 after buying an additional 46,064 shares in the last quarter. Prudential PLC acquired a new position in shares of Fifth Third Bancorp in the 1st quarter valued at approximately $754,000. Cetera Investment Advisers raised its position in shares of Fifth Third Bancorp by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock valued at $2,365,000 after buying an additional 6,341 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Fifth Third Bancorp by 60.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock valued at $5,224,000 after buying an additional 45,910 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 1.5 %

FITB opened at $34.09 on Wednesday. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.31 and a beta of 1.27. The company’s 50 day moving average price is $35.13 and its two-hundred day moving average price is $31.66.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share 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 firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the firm posted $1.04 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 43.34%.

Insider Activity

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

Analyst Ratings Changes

FITB has been the subject of several analyst reports. Robert W. Baird restated a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Finally, Barclays lifted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $35.63.

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.