Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 736,935 shares of the financial services provider’s stock after selling 89,516 shares during the period. Natixis Advisors LLC owned 0.11% of Fifth Third Bancorp worth $26,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after purchasing an additional 734,403 shares during the last quarter. Capital World Investors raised its position in shares of Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after buying an additional 5,512,333 shares during the period. Boston Partners raised its position in shares of Fifth Third Bancorp by 11.5% during the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after buying an additional 1,499,194 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fifth Third Bancorp by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock valued at $318,979,000 after buying an additional 393,489 shares during the period. Finally, Norges Bank purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $257,189,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 1.2 %

Fifth Third Bancorp stock opened at $42.69 on Tuesday. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $42.91. The stock’s fifty day simple moving average is $39.67 and its 200-day simple moving average is $37.40. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $29.20 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.01 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period in the prior year, the company posted $0.87 EPS. As a group, equities analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.28%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the transaction, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,500 shares of company stock worth $2,269,920. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FITB. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Friday, May 31st. Jefferies Financial Group lifted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Argus lifted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Evercore ISI cut their target price on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Finally, Stephens reissued an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.56.

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.