Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Swedbank AB

Swedbank AB lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,432 shares of the financial services provider’s stock after selling 1,584 shares during the quarter. Swedbank AB’s holdings in Fifth Third Bancorp were worth $10,900,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Fifth Third Bancorp by 56.9% in the 3rd 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 period. MidAtlantic Capital Management Inc. purchased a new stake in Fifth Third Bancorp during the third quarter valued at about $39,000. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp in the 2nd quarter worth approximately $34,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the third quarter valued at $53,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $48.25 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50 day simple moving average of $44.41 and a 200 day simple moving average of $40.86. Fifth Third Bancorp has a one year low of $26.89 and a one year high of $49.07. The company has a market capitalization of $32.35 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.07%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Barclays upped their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley boosted their price objective 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. Evercore ISI raised their target price 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. Finally, Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $43.62.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

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.