Bokf Na Acquires 4,541 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Bokf Na lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 10.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 48,033 shares of the financial services provider’s stock after acquiring an additional 4,541 shares during the quarter. Bokf Na’s holdings in Fifth Third Bancorp were worth $1,753,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Bailard Inc. lifted its stake in Fifth Third Bancorp by 0.5% in the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 264 shares during the last quarter. Ballentine Partners LLC boosted 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 acquiring an additional 278 shares during the period. SVB Wealth LLC grew its position in Fifth Third Bancorp by 3.8% during the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 283 shares during the last quarter. Signaturefd LLC increased its stake in Fifth Third Bancorp by 2.6% in 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 during the period. Finally, Lcnb Corp lifted its position in Fifth Third Bancorp by 1.7% in the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FITB. Keefe, Bruyette & Woods reaffirmed 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. Bank of America upped their price objective 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. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Evercore ISI lowered their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Finally, Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Friday, May 31st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.56.

Insider Activity

In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now 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 is accessible through the SEC website. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, July 16th. The stock was 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 owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock worth $2,269,920 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Up 2.2 %

Shares of Fifth Third Bancorp stock 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 firm has a market cap of $28.47 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.93 and a beta of 1.22. The company has a 50-day moving average of $40.60 and a 200 day moving average of $37.87. 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 earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

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.