Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 26.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,459 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. CapWealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Fifth Third Bancorp by 6.2% during the first quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock worth $1,565,617,000 after buying an additional 3,448,642 shares during the last quarter. Invesco Ltd. boosted its stake in Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after buying an additional 1,500,653 shares during the last quarter. Geode Capital Management LLC boosted its stake in Fifth Third Bancorp by 2.0% during the first quarter. Geode Capital Management LLC now owns 14,874,154 shares of the financial services provider’s stock worth $395,400,000 after buying an additional 296,945 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after buying an additional 393,937 shares during the last quarter. Finally, Boston Partners boosted its stake in Fifth Third Bancorp by 32.1% during the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after buying an additional 3,176,903 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Barclays upped their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.63.

Fifth Third Bancorp Trading Up 0.5 %

Shares of FITB stock traded up $0.18 on Thursday, hitting $34.28. The stock had a trading volume of 1,791,145 shares, compared to its average volume of 5,340,154. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $23.35 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.29 and a beta of 1.27. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The company’s 50 day moving average price is $35.14 and its 200-day moving average price is $31.68.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business earned $1.04 EPS. Analysts anticipate that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 4.08%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 43.34%.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Company Profile

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.