Diversified Trust Co Raises Position in Fifth Third Bancorp (NASDAQ:FITB)

Diversified Trust Co boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,608 shares of the financial services provider’s stock after buying an additional 390 shares during the quarter. Diversified Trust Co’s holdings in Fifth Third Bancorp were worth $358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LVW Advisors LLC purchased a new position in Fifth Third Bancorp in the 1st quarter worth approximately $274,000. MPS Loria Financial Planners LLC purchased a new position in Fifth Third Bancorp in the 1st quarter worth approximately $214,000. Founders Financial Securities LLC purchased a new position in Fifth Third Bancorp in the 1st quarter worth approximately $361,000. Gibson Capital LLC purchased a new position in Fifth Third Bancorp in the 1st quarter worth approximately $214,000. Finally, MCF Advisors LLC lifted its stake in Fifth Third Bancorp by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after purchasing an additional 328 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $36.78 on Friday. The company has a fifty day simple moving average of $36.90 and a two-hundred day simple moving average of $35.62. The company has a market cap of $25.16 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.55 and a beta of 1.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.29 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insiders Place Their Bets

In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were 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 in the company, valued at $5,134,575. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FITB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Evercore ISI cut their price target on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Morgan Stanley restated an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 22nd. DA Davidson raised their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.15.

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.