CIBC Asset Management Inc Trims Position in Fifth Third Bancorp (NASDAQ:FITB)

CIBC Asset Management Inc lowered its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,041 shares of the financial services provider’s stock after selling 6,042 shares during the period. CIBC Asset Management Inc’s holdings in Fifth Third Bancorp were worth $3,830,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC raised its position in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares during the period. Denali Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $36,000. Financial Management Professionals Inc. lifted its position in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. Friedenthal Financial purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $48,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Fifth Third Bancorp by 83.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 695 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

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

Fifth Third Bancorp Trading Down 0.7 %

NASDAQ FITB opened at $36.11 on Friday. The firm has a market capitalization of $24.70 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $39.14. The company has a 50-day simple moving average of $36.76 and a 200-day simple moving average of $34.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company earned $0.78 earnings per share. On average, equities analysts forecast that Fifth Third Bancorp will post 3.27 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. Investors of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.88%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

Several research analysts have recently weighed in on FITB shares. Evercore ISI upped their target price 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 issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Friday, May 31st. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.86.

Get Our Latest Research Report 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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