Deprince Race & Zollo Inc. Sells 15,946 Shares of Fifth Third Bancorp $FITB

Deprince Race & Zollo Inc. reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 820,475 shares of the financial services provider’s stock after selling 15,946 shares during the period. Deprince Race & Zollo Inc. owned 0.12% of Fifth Third Bancorp worth $36,552,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in Fifth Third Bancorp by 11.9% during the first quarter. Ameriprise Financial Inc. now owns 930,756 shares of the financial services provider’s stock worth $36,783,000 after acquiring an additional 98,777 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Fifth Third Bancorp by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 56,689 shares of the financial services provider’s stock worth $2,222,000 after purchasing an additional 2,799 shares during the last quarter. Jump Financial LLC raised its stake in shares of Fifth Third Bancorp by 382.2% during the 1st quarter. Jump Financial LLC now owns 30,049 shares of the financial services provider’s stock worth $1,178,000 after purchasing an additional 23,817 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Fifth Third Bancorp by 25.9% during the 1st quarter. CreativeOne Wealth LLC now owns 8,578 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 1,763 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of Fifth Third Bancorp by 19.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 71,233 shares of the financial services provider’s stock valued at $2,792,000 after buying an additional 11,811 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh acquired 3,000 shares of the business’s stock in a transaction on Monday, October 20th. The stock was acquired at an average cost of $41.22 per share, with a total value of $123,660.00. Following the acquisition, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. This trade represents a 3.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 0.4%

Fifth Third Bancorp stock opened at $48.41 on Friday. The company’s 50-day moving average price is $44.15 and its two-hundred day moving average price is $43.44. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $32.00 billion, a P/E ratio of 14.45, a P/E/G ratio of 0.98 and a beta of 0.99. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $48.71.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The company had revenue of $3.82 billion during the quarter. As a group, analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.76%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FITB shares. Cowen reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a research report on Monday, October 20th. The Goldman Sachs Group upped their target price on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Wolfe Research raised their target price on shares of Fifth Third Bancorp from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Stephens boosted their price target on Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, TD Cowen upped their price objective on Fifth Third Bancorp from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.15.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.