Fifth Third Bancorp $FITB Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 713,418 shares of the financial services provider’s stock after selling 57,604 shares during the period. Fifth Third Bancorp owned 0.11% of Fifth Third Bancorp worth $31,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Fifth Third Bancorp by 18.9% in the third quarter. HighTower Advisors LLC now owns 164,494 shares of the financial services provider’s stock valued at $7,328,000 after purchasing an additional 26,146 shares in the last quarter. Assetmark Inc. grew its position in shares of Fifth Third Bancorp by 30.0% in the 3rd quarter. Assetmark Inc. now owns 29,103 shares of the financial services provider’s stock valued at $1,297,000 after buying an additional 6,723 shares during the last quarter. Mraz Amerine & Associates Inc. raised its stake in Fifth Third Bancorp by 61.4% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 17,880 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 6,805 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Fifth Third Bancorp by 3.0% in the third quarter. Public Sector Pension Investment Board now owns 142,739 shares of the financial services provider’s stock valued at $6,359,000 after acquiring an additional 4,152 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in Fifth Third Bancorp in the third quarter valued at $498,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Evercore boosted their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. UBS Group reissued a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. DA Davidson increased their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada boosted their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.58.

Fifth Third Bancorp Trading Down 0.6%

Shares of FITB opened at $52.86 on Tuesday. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $34.94 billion, a P/E ratio of 14.93, a PEG ratio of 1.07 and a beta of 0.98. The firm’s 50-day moving average is $49.81 and its two-hundred day moving average is $45.71.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The business had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. On average, research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.40 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. Fifth Third Bancorp’s payout ratio is currently 45.20%.

Fifth Third Bancorp Profile

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.