Versant Capital Management Inc Has $43,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Versant Capital Management Inc boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 232.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,006 shares of the financial services provider’s stock after acquiring an additional 703 shares during the period. Versant Capital Management Inc’s holdings in Fifth Third Bancorp were worth $43,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB. TD Asset Management Inc raised its position in shares of Fifth Third Bancorp by 5.6% in the 2nd quarter. TD Asset Management Inc now owns 289,206 shares of the financial services provider’s stock valued at $10,553,000 after buying an additional 15,282 shares in the last quarter. National Bank of Canada FI boosted its stake in Fifth Third Bancorp by 23.1% in the second quarter. National Bank of Canada FI now owns 193,138 shares of the financial services provider’s stock valued at $7,005,000 after buying an additional 36,287 shares in the last quarter. Victory Capital Management Inc. grew its position in Fifth Third Bancorp by 7.4% in the second quarter. Victory Capital Management Inc. now owns 1,384,491 shares of the financial services provider’s stock valued at $50,520,000 after acquiring an additional 94,924 shares during the last quarter. Candriam S.C.A. boosted its stake in shares of Fifth Third Bancorp by 26.1% in the 2nd quarter. Candriam S.C.A. now owns 70,930 shares of the financial services provider’s stock valued at $2,588,000 after purchasing an additional 14,671 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Fifth Third Bancorp by 5.5% during the 2nd quarter. Lake Street Advisors Group LLC now owns 6,988 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 363 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 1.3 %

Shares of NASDAQ FITB opened at $42.94 on Tuesday. The stock has a market capitalization of $28.79 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.18 and a beta of 1.22. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The company has a 50-day moving average price of $45.31 and a 200-day moving average price of $42.49.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.62.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

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.