Unison Advisors LLC Raises Position in Fifth Third Bancorp (NASDAQ:FITB)

Unison Advisors LLC boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 100,779 shares of the financial services provider’s stock after buying an additional 996 shares during the quarter. Unison Advisors LLC’s holdings in Fifth Third Bancorp were worth $3,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its stake in Fifth Third Bancorp by 6.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock worth $2,110,000 after purchasing an additional 3,476 shares in the last quarter. Morningstar Investment Management LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $2,257,000. Bank of Nova Scotia lifted its stake in Fifth Third Bancorp by 31.6% in the 4th quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock worth $3,056,000 after purchasing an additional 21,251 shares in the last quarter. rhino investment partners Inc lifted its stake in Fifth Third Bancorp by 20.1% in the 4th quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock worth $44,891,000 after purchasing an additional 217,956 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Fifth Third Bancorp by 8.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock worth $10,043,000 after purchasing an additional 21,612 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here. In the last three months, insiders sold 34,500 shares of company stock valued at $1,429,920. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FITB. Evercore ISI reduced their price target on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Argus lifted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group lifted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.56.

Fifth Third Bancorp Stock Down 0.0 %

Shares of NASDAQ:FITB traded down $0.01 during trading on Friday, hitting $39.65. The company’s stock had a trading volume of 2,902,956 shares, compared to its average volume of 4,868,144. The business has a 50 day moving average price of $38.03 and a two-hundred day moving average price of $36.59. The company has a market capitalization of $27.12 billion, a PE ratio of 12.59, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same quarter last year, the firm earned $0.87 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.53%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Fifth Third Bancorp 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.