First Hawaiian Bank Sells 1,804 Shares of Fifth Third Bancorp (NASDAQ:FITB)

First Hawaiian Bank decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,214 shares of the financial services provider’s stock after selling 1,804 shares during the quarter. First Hawaiian Bank’s holdings in Fifth Third Bancorp were worth $789,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in shares of Fifth Third Bancorp by 6.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock worth $2,110,000 after acquiring an additional 3,476 shares in the last quarter. Nordea Investment Management AB increased its stake in Fifth Third Bancorp by 57.5% in the 4th quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock valued at $25,551,000 after buying an additional 269,152 shares during the last quarter. Morningstar Investment Management LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth about $2,257,000. Bank of Nova Scotia grew its holdings in shares of Fifth Third Bancorp by 31.6% in the 4th quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock valued at $3,056,000 after acquiring an additional 21,251 shares in the last quarter. Finally, rhino investment partners Inc grew its holdings in shares of Fifth Third Bancorp by 20.1% in the 4th quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock valued at $44,891,000 after acquiring an additional 217,956 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. DA Davidson boosted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Evercore ISI lifted their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Robert W. Baird restated a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $37.21.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $35.92 on Friday. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.49 and a beta of 1.24. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $39.14. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average price of $36.74 and a 200-day moving average price of $35.31.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.26 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.90%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders sold a total of 22,357 shares of company stock worth $816,148 in the last ninety days. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Company 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.