KCM Investment Advisors LLC Sells 17,397 Shares of Fifth Third Bancorp (NASDAQ:FITB)

KCM Investment Advisors LLC lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 75.3% in the third quarter, HoldingsChannel reports. The firm owned 5,692 shares of the financial services provider’s stock after selling 17,397 shares during the period. KCM Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the last quarter. American Capital Advisory LLC bought a new position in Fifth Third Bancorp during the second quarter worth $34,000. Hexagon Capital Partners LLC increased its holdings in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the last quarter. Family Firm Inc. bought a new position in shares of Fifth Third Bancorp in the second quarter valued at about $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth about $53,000. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 14.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $46.99 on Friday. The firm’s 50 day simple moving average is $43.61 and its 200 day simple moving average is $40.38. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 2.26 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 1 year low of $26.89 and a 1 year high of $48.10.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.15%. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Analysts Set New Price Targets

FITB has been the topic of a number of research reports. Argus upped 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 note on Monday, July 22nd. Barclays upped their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued 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 $43.09.

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.