International Assets Investment Management LLC Has $8.16 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

International Assets Investment Management LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.2% in the fourth quarter, HoldingsChannel reports. The fund owned 236,478 shares of the financial services provider’s stock after selling 578 shares during the period. International Assets Investment Management LLC’s holdings in Fifth Third Bancorp were worth $8,156,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Independence Bank of Kentucky grew its position in shares of Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 355 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Fifth Third Bancorp by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 389 shares during the period. Advisory Resource Group raised 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 acquiring an additional 435 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 13,694 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 451 shares during the period. Finally, Chicago Capital LLC grew its holdings in shares of Fifth Third Bancorp by 1.2% during the 4th quarter. Chicago Capital LLC now owns 39,172 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 477 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp 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 transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock valued at $1,787,638 over the last quarter. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Up 1.2 %

Shares of FITB opened at $38.00 on Tuesday. The stock’s 50-day moving average price is $35.97 and its two-hundred day moving average price is $32.85. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $38.09. The company has a market capitalization of $25.88 billion, a PE ratio of 12.06, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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 company had revenue of $3.32 billion for 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 in the previous year, the firm earned $0.78 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 3.22 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FITB. DA Davidson boosted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $37.50 to $39.50 in a report on Wednesday, May 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Morgan Stanley restated an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, Royal Bank of Canada lifted their price target on 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.50.

About Fifth Third Bancorp

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.