WINTON GROUP Ltd Invests $345,000 in Fifth Third Bancorp (NASDAQ:FITB)

WINTON GROUP Ltd bought a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,461 shares of the financial services provider’s stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds have also modified their holdings of FITB. Vanguard Group Inc. raised its stake in 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 valued at $3,012,472,000 after purchasing an additional 734,403 shares during the last quarter. Capital World Investors increased its holdings in Fifth Third Bancorp by 13.4% in 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. Norges Bank bought a new stake in Fifth Third Bancorp in the 4th quarter valued at $257,189,000. LSV Asset Management grew its holdings in shares of Fifth Third Bancorp by 2.3% in the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after purchasing an additional 99,593 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Fifth Third Bancorp by 341.8% in the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after purchasing an additional 1,492,124 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $42.62 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.37. The business’s 50 day moving average price is $40.97 and its two-hundred day moving average price is $38.05. The firm has a market cap of $29.15 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued 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). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.87 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.47%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,500 shares of the 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 completion of the transaction, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s 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 sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 125,087 shares in the company, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,500 shares of company stock worth $2,269,920. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FITB shares. Bank of America upped their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective 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. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Evercore ISI cut their target price on shares of 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 reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.16.

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.