Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,286 shares of the financial services provider’s stock after selling 550 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Fifth Third Bancorp were worth $569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Morningstar Investment Management LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $2,257,000. Bank of Nova Scotia grew its position in shares of Fifth Third Bancorp by 31.6% during the fourth quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock worth $3,056,000 after buying an additional 21,251 shares in the last quarter. Park National Corp OH increased its stake in shares of Fifth Third Bancorp by 15.0% during the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 5,411 shares during the period. rhino investment partners Inc grew its holdings in Fifth Third Bancorp by 20.1% during 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 acquiring an additional 217,956 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $10,043,000 after purchasing an additional 21,612 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 2,500 shares of the company’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 transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock worth $2,269,920 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FITB. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Morgan Stanley increased their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.56.

Fifth Third Bancorp Trading Down 1.5 %

Shares of FITB stock opened at $40.97 on Wednesday. The company has a market capitalization of $28.03 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $40.31 and its two-hundred day moving average is $37.74. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $42.91.

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

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

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.