Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,332,816 shares of the financial services provider’s stock after selling 27,148 shares during the period. Hsbc Holdings PLC’s holdings in Fifth Third Bancorp were worth $48,603,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FITB. Gilbert & Cook Inc. raised its position in Fifth Third Bancorp by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 19,698 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 729 shares in the last quarter. Aveo Capital Partners LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $206,000. 9258 Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 4.6% during the fourth quarter. 9258 Wealth Management LLC now owns 14,019 shares of the financial services provider’s stock worth $484,000 after buying an additional 620 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Fifth Third Bancorp during the fourth quarter worth about $200,000. Finally, Brown Advisory Inc. increased its holdings in Fifth Third Bancorp by 33.3% in the fourth quarter. Brown Advisory Inc. now owns 32,303 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 8,062 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

FITB stock opened at $43.24 on Friday. The stock has a market capitalization of $29.58 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The stock’s fifty day simple moving average is $41.17 and its 200-day simple moving average is $38.14. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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). The business had revenue of $3.32 billion during 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 last year, the firm earned $0.87 EPS. Equities research analysts expect 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. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.42%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In related 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 value of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were 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 directly owns 134,422 shares in the company, valued at approximately $5,376,880. The disclosure for this sale can be found here. Insiders have sold a total of 54,500 shares of company stock worth $2,269,920 in the last quarter. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on 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 upped their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Royal Bank of Canada increased their price objective 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, Argus upped their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.16.

About Fifth Third Bancorp

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.