Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 154,061 shares of the financial services provider’s stock after selling 1,236 shares during the period. ProShare Advisors LLC’s holdings in Fifth Third Bancorp were worth $5,622,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Gilbert & Cook Inc. increased its position in Fifth Third Bancorp by 3.8% during the 4th quarter. Gilbert & Cook Inc. now owns 19,698 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 729 shares in the last quarter. Aveo Capital Partners LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $206,000. 9258 Wealth Management LLC increased its position in shares of Fifth Third Bancorp by 4.6% in the fourth quarter. 9258 Wealth Management LLC now owns 14,019 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 620 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Fifth Third Bancorp by 14,250.0% during the 4th quarter. Assetmark Inc. now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Fifth Third Bancorp by 7.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 82,176 shares of the financial services provider’s stock worth $2,834,000 after purchasing an additional 5,547 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now directly owns 125,087 shares in the company, valued at approximately $5,224,883.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the firm’s 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 sale, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction that occurred 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 sale, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. 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 over the last quarter. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Trading Down 1.7 %

Shares of NASDAQ FITB opened at $42.10 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $41.30 and its two-hundred day moving average price is $38.26. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.85. The stock has a market capitalization of $28.49 billion, a P/E ratio of 13.37, a PEG ratio of 2.03 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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). The firm had revenue of $3.32 billion for 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 period in the prior year, the company posted $0.87 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. 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 an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several research firms have commented on FITB. Argus raised their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Finally, Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report 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. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price 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.