XTX Topco Ltd Sells 3,984 Shares of Fifth Third Bancorp (NASDAQ:FITB)

XTX Topco Ltd cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 18.7% in the second quarter, HoldingsChannel reports. The fund owned 17,359 shares of the financial services provider’s stock after selling 3,984 shares during the period. XTX Topco Ltd’s holdings in Fifth Third Bancorp were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Fifth Third Bancorp in the first quarter worth approximately $29,000. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $34,000. Centerpoint Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares in the last quarter. Family Firm Inc. purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth $52,000. Finally, Mather Group LLC. purchased a new stake in Fifth Third Bancorp in the 1st quarter worth $56,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $42.84 on Tuesday. The firm has a market capitalization of $29.30 billion, a PE ratio of 13.60, a PEG ratio of 1.93 and a beta of 1.22. The stock’s fifty day moving average is $41.24 and its 200 day moving average is $38.22. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $43.85. 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 (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 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 the consensus estimate of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.37 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 46.98%.

Insider Buying and Selling

In other news, EVP Kevin P. Lavender sold 20,000 shares of the business’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 owns 125,087 shares in the company, valued at approximately $5,224,883.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 transaction of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of 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. Insiders sold a total of 54,500 shares of company stock valued at $2,269,920 over the last three months. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. 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 research note on Wednesday, July 3rd. Bank of America lifted 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 report on Monday, July 22nd. Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Stephens reiterated 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. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.16.

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.