Deprince Race & Zollo Inc. Sells 10,582 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Deprince Race & Zollo Inc. decreased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 817,698 shares of the financial services provider’s stock after selling 10,582 shares during the quarter. Deprince Race & Zollo Inc. owned about 0.12% of Fifth Third Bancorp worth $29,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FITB. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp during the 1st quarter worth about $29,000. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Centerpoint Advisors LLC raised its position in shares of Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares during the last quarter. Family Firm Inc. acquired a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $52,000. Finally, Blue Trust Inc. raised its holdings in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock worth $60,000 after buying an additional 914 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the 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 completion of the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,500 shares of company stock valued at $2,269,920. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.7 %

Fifth Third Bancorp stock opened at $42.10 on Thursday. The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. 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 fifty-two week low of $22.49 and a fifty-two week high of $43.85. The stock’s fifty day moving average is $41.30 and its two-hundred day moving average is $38.26.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly 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). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the company earned $0.87 EPS. Analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on FITB shares. Bank of America raised their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Argus boosted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Friday, May 31st. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus 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.