Zions Bancorporation N.A. Reduces Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Zions Bancorporation N.A. lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 31.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 961 shares of the financial services provider’s stock after selling 431 shares during the quarter. Zions Bancorporation N.A.’s holdings in Fifth Third Bancorp were worth $35,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bailard Inc. grew its holdings in Fifth Third Bancorp by 0.5% during the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 264 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Fifth Third Bancorp by 2.0% during the second 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 last quarter. SVB Wealth LLC boosted its stake in shares of Fifth Third Bancorp by 3.8% during the first quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 283 shares during the last quarter. Signaturefd LLC raised 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 valued at $453,000 after purchasing an additional 314 shares during the last quarter. Finally, Lcnb Corp lifted its holdings in Fifth Third Bancorp by 1.7% in the 4th 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 in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Bank of America lifted their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Stephens reaffirmed an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Finally, Evercore ISI reduced 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. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.56.

Fifth Third Bancorp Stock Up 2.2 %

Shares of NASDAQ FITB opened at $42.07 on Monday. The stock has a fifty day moving average price of $40.60 and a 200 day moving average price of $37.90. 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 12-month low of $22.49 and a 12-month high of $42.91. The company has a market cap of $28.78 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.93 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.87 EPS. Research analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.37 per share. 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 payout ratio is presently 46.98%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction that occurred 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 sale, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The disclosure for this sale can be found here. In the last three months, insiders sold 54,500 shares of company stock valued at $2,269,920. Corporate insiders own 0.50% of the company’s stock.

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.