Fragasso Financial Advisors Inc reduced its position in Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,449 shares of the financial services provider’s stock after selling 10,559 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Fifth Third Bancorp were worth $3,697,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. 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 valued at $3,078,000 after buying an additional 9,444 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Fifth Third Bancorp by 13.6% in the 3rd 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 buying an additional 55,081 shares during the period. Icon Wealth Advisors LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at about $541,000. Nordea Investment Management AB increased its holdings in Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after buying an additional 54,463 shares during the period. Finally, First National Trust Co increased its holdings in Fifth Third Bancorp by 44.9% in the 3rd quarter. First National Trust Co now owns 77,099 shares of the financial services provider’s stock valued at $3,303,000 after buying an additional 23,890 shares during the period. 83.79% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on FITB shares. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. 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. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Barclays raised their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $45.92.
Fifth Third Bancorp Trading Up 0.6 %
Fifth Third Bancorp stock traded up $0.26 during mid-day trading on Monday, hitting $41.38. 1,660,114 shares of the stock were exchanged, compared to its average volume of 4,321,477. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The firm’s fifty day simple moving average is $45.19 and its two-hundred day simple moving average is $42.66. The stock has a market capitalization of $27.75 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.18 and a beta of 1.24.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last released 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 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 the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. 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. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.58%. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.
Insider Activity
In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on 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 sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by company insiders.
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.
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