Victory Capital Management Inc. Has $25.18 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Victory Capital Management Inc. cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 730,072 shares of the financial services provider’s stock after selling 25,054 shares during the quarter. Victory Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $25,180,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FITB. Independence Bank of Kentucky increased its position in shares of Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 355 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of 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 purchasing an additional 389 shares in the last quarter. Vicus Capital boosted its holdings in shares of Fifth Third Bancorp by 4.1% in the 4th quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after buying an additional 397 shares during the last quarter. Advisory Resource Group grew its stake in shares of Fifth Third Bancorp by 0.4% in the fourth 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 in the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in 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. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

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

Fifth Third Bancorp Stock Up 1.2 %

NASDAQ FITB opened at $38.48 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market cap of $26.21 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.42 and a beta of 1.24. The company has a 50 day moving average of $36.05 and a 200-day moving average of $32.95. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $38.51.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations 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 EPS. On average, equities research analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.64%. Fifth Third Bancorp’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI increased their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. UBS Group reissued a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Stephens reiterated 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. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One investment 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.com, the stock has an average rating of “Hold” and a consensus price target 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.