Qsemble Capital Management LP Takes $779,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Qsemble Capital Management LP bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,351 shares of the financial services provider’s stock, valued at approximately $779,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bailard Inc. increased its position in Fifth Third Bancorp by 0.5% during the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 264 shares during the last quarter. Ballentine Partners LLC grew its holdings in Fifth Third Bancorp by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 278 shares during the last quarter. SVB Wealth LLC raised its position in Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 283 shares during the period. Signaturefd LLC lifted its stake in Fifth Third Bancorp by 2.6% in the second quarter. Signaturefd LLC now owns 12,424 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 314 shares during the last quarter. Finally, Lcnb Corp boosted its position in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 2.2 %

Shares of NASDAQ FITB opened at $42.07 on Friday. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $42.91. The business has a fifty day moving average price of $40.60 and a 200 day moving average price of $37.85. The stock has a market capitalization of $28.47 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81.

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

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.37 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.52%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FITB. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted 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. Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Finally, Bank of America lifted their price target 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. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $40.56.

Insider Activity

In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. In the last quarter, insiders sold 54,500 shares of company stock worth $2,269,920. Insiders own 0.50% of the company’s stock.

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.