World Investment Advisors LLC Acquires Shares of 6,139 Fifth Third Bancorp (NASDAQ:FITB)

World Investment Advisors LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,139 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Fifth Third Bancorp by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after purchasing an additional 732,651 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fifth Third Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after buying an additional 281,494 shares during the period. Allspring Global Investments Holdings LLC grew its position in Fifth Third Bancorp by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after buying an additional 399,827 shares in the last quarter. Smead Capital Management Inc. increased its stake in Fifth Third Bancorp by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock worth $95,278,000 after acquiring an additional 75,024 shares during the period. Finally, Zacks Investment Management raised its holdings in Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock valued at $74,450,000 after acquiring an additional 158,067 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In other Fifth Third Bancorp 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 sale, the executive vice president now owns 55,913 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Down 5.5 %

Shares of NASDAQ FITB opened at $42.59 on Thursday. The company has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $41.83. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm has a market cap of $28.56 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. Fifth Third Bancorp’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Piper Sandler boosted their target price on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Evercore ISI increased their price target 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. Finally, StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.32.

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.