Russell Investments Group Ltd. Has $9.91 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Russell Investments Group Ltd. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,130 shares of the financial services provider’s stock after selling 5,568 shares during the period. Russell Investments Group Ltd.’s holdings in Fifth Third Bancorp were worth $9,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Independence Bank of Kentucky grew its holdings in Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 355 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 3.5% during the third quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 389 shares during the period. Vicus Capital increased its stake in shares of Fifth Third Bancorp by 4.1% in the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 397 shares during the period. Advisory Resource Group grew its holdings in Fifth Third Bancorp by 0.4% in the 4th quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after buying an additional 435 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Fifth Third Bancorp by 3.4% during the third quarter. Raleigh Capital Management Inc. now owns 13,694 shares of the financial services provider’s stock worth $347,000 after buying an additional 451 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research reports. 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 report on Monday, January 22nd. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. UBS Group reaffirmed a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Stephens reissued an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $36.50.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $37.56 on Monday. The firm has a market cap of $25.58 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $35.88 and a 200 day simple moving average of $32.76. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.77.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period last year, the company earned $0.78 earnings per share. Sell-side analysts predict that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared 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 3.73%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock valued at $1,787,638 over the last three months. Company insiders own 0.50% of the company’s stock.

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.