UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stake in Fifth Third Bancorp (NASDAQ:FITB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,664,243 shares of the financial services provider’s stock after selling 53,606 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Fifth Third Bancorp were worth $156,976,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Park National Corp OH increased its position in shares of Fifth Third Bancorp by 15.0% in the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 5,411 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares in the last quarter. M&G Plc acquired a new position in Fifth Third Bancorp during the second quarter worth $1,254,000. BDF Gestion acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $3,837,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after purchasing an additional 55,081 shares during the period. Institutional investors and hedge funds 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 firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Fifth Third Bancorp Stock Down 0.2 %

FITB stock opened at $48.06 on Friday. Fifth Third Bancorp has a one year low of $28.29 and a one year high of $49.07. The firm has a market cap of $32.23 billion, a PE ratio of 15.97, a PEG ratio of 2.30 and a beta of 1.21. The firm’s 50 day moving average price is $44.70 and its 200-day moving average price is $41.05. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. On average, equities 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. Stockholders of record on Monday, September 30th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

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.