Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 240,195 shares of the financial services provider’s stock after buying an additional 1,816 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fifth Third Bancorp were worth $8,765,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FITB. Rothschild Investment LLC purchased a new position in Fifth Third Bancorp during the 2nd quarter worth approximately $891,000. Hantz Financial Services Inc. purchased a new position in Fifth Third Bancorp during the 2nd quarter worth approximately $5,247,000. International Assets Investment Management LLC grew its position in Fifth Third Bancorp by 276.0% during the 2nd quarter. International Assets Investment Management LLC now owns 109,644 shares of the financial services provider’s stock worth $4,001,000 after purchasing an additional 80,483 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Fifth Third Bancorp by 1.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,651 shares of the financial services provider’s stock worth $2,578,000 after purchasing an additional 838 shares in the last quarter. Finally, Signaturefd LLC grew its position in Fifth Third Bancorp by 2.6% during the 2nd quarter. Signaturefd LLC now owns 12,424 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 314 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock valued at $2,269,920 in the last quarter. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.0 %

FITB stock opened at $41.70 on Friday. The firm has a market cap of $28.52 billion, a PE ratio of 13.24, a PEG ratio of 2.01 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $42.91. The company has a fifty day simple moving average of $40.04 and a 200 day simple moving average of $37.53.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results 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 firm had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 firm earned $0.87 EPS. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 EPS 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. Shareholders of record on Friday, June 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

Analyst Upgrades and Downgrades

FITB has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Argus lifted their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America lifted their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.56.

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.