Financial Counselors Inc. Trims Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Financial Counselors Inc. decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 250,982 shares of the financial services provider’s stock after selling 6,871 shares during the period. Financial Counselors Inc.’s holdings in Fifth Third Bancorp were worth $10,752,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its holdings in shares of Fifth Third Bancorp by 1.9% in the third quarter. Public Sector Pension Investment Board now owns 118,197 shares of the financial services provider’s stock worth $5,064,000 after buying an additional 2,200 shares in the last quarter. Fiduciary Trust Co lifted its stake in Fifth Third Bancorp by 36.8% in the 3rd quarter. Fiduciary Trust Co now owns 26,755 shares of the financial services provider’s stock worth $1,146,000 after purchasing an additional 7,201 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $271,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter valued at $12,895,000. Finally, Townsquare Capital LLC bought a new position in shares of Fifth Third Bancorp in the third quarter worth $804,000. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Trading Down 0.2 %

Shares of FITB opened at $48.16 on Friday. The stock has a market capitalization of $32.29 billion, a P/E ratio of 16.00, a PEG ratio of 2.32 and a beta of 1.21. Fifth Third Bancorp has a twelve month low of $26.89 and a twelve month high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $44.61 and a two-hundred day simple moving average of $40.97.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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 return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Analyst Ratings Changes

Several research firms recently issued reports on FITB. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays lifted their price target 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. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.62.

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.