Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,121 shares of the financial services provider’s stock after acquiring an additional 820 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Fifth Third Bancorp were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FITB. GAMMA Investing LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $199,000. Sage Mountain Advisors LLC grew its position in Fifth Third Bancorp by 2.8% in the 4th quarter. Sage Mountain Advisors LLC now owns 32,376 shares of the financial services provider’s stock valued at $1,117,000 after acquiring an additional 875 shares in the last quarter. Telemus Capital LLC acquired a new position in Fifth Third Bancorp in the 4th quarter valued at about $251,000. Keeler Thomas Management LLC grew its position in Fifth Third Bancorp by 2.9% in the 4th quarter. Keeler Thomas Management LLC now owns 156,373 shares of the financial services provider’s stock valued at $5,393,000 after acquiring an additional 4,389 shares in the last quarter. Finally, MCF Advisors LLC grew its position in Fifth Third Bancorp by 35.3% in the 4th quarter. MCF Advisors LLC now owns 41,266 shares of the financial services provider’s stock valued at $1,434,000 after acquiring an additional 10,772 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 26,500 shares of the 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 completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, 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 SEC, which is available through the SEC website. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock worth $1,693,888 over the last three months. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

FITB has been the subject of a number of research reports. DA Davidson boosted their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.31.

Fifth Third Bancorp Stock Down 0.9 %

Shares of NASDAQ:FITB opened at $36.89 on Thursday. The stock’s fifty day simple moving average is $35.42 and its 200-day simple moving average is $32.10. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The company has a market capitalization of $25.13 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping 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 firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, equities research analysts forecast that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

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.