Gulf International Bank UK Ltd trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,407 shares of the financial services provider’s stock after selling 6,276 shares during the period. Gulf International Bank UK Ltd’s holdings in Fifth Third Bancorp were worth $1,945,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Fifth Third Bancorp by 0.4% during the 2nd quarter. BlackRock Inc. now owns 59,032,045 shares of the financial services provider’s stock worth $1,547,230,000 after buying an additional 262,637 shares during the last quarter. State Street Corp increased its holdings in Fifth Third Bancorp by 2.3% in the 2nd quarter. State Street Corp now owns 31,753,969 shares of the financial services provider’s stock valued at $842,650,000 after purchasing an additional 709,615 shares in the last quarter. Invesco Ltd. increased its holdings in Fifth Third Bancorp by 8.4% in the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after purchasing an additional 1,500,653 shares in the last quarter. Geode Capital Management LLC increased its holdings in Fifth Third Bancorp by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 15,184,460 shares of the financial services provider’s stock valued at $396,994,000 after purchasing an additional 310,306 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Fifth Third Bancorp by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after purchasing an additional 393,937 shares in the last quarter. 77.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on FITB. Stephens reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. UBS Group upped their price objective on shares of Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, The Goldman Sachs Group upped their price objective on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.30.
View Our Latest Analysis on FITB
Insider Activity at Fifth Third Bancorp
In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.
Fifth Third Bancorp Price Performance
Shares of NASDAQ:FITB opened at $37.01 on Friday. The firm’s 50 day moving average is $34.52 and its two-hundred day moving average is $30.37. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.36. The firm has a market capitalization of $25.21 billion, a P/E ratio of 11.46, a PEG ratio of 1.40 and a beta of 1.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business earned $1.04 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.16 earnings per share for the current year.
Fifth Third Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.
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.
Further Reading
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