Pacer Advisors Inc. Has $1.78 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Pacer Advisors Inc. raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.6% in the second quarter, HoldingsChannel reports. The fund owned 48,878 shares of the financial services provider’s stock after purchasing an additional 2,157 shares during the quarter. Pacer Advisors Inc.’s holdings in Fifth Third Bancorp were worth $1,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted 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 lifted its holdings in shares of Fifth Third Bancorp by 13.4% in the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after purchasing an additional 5,512,333 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fifth Third Bancorp by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after buying an additional 281,494 shares during the last quarter. LSV Asset Management grew its holdings in Fifth Third Bancorp by 2.3% during the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after buying an additional 99,593 shares in the last quarter. Finally, KBC Group NV raised its position in 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 valued at $66,521,000 after buying an additional 1,492,124 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. 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 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,500 shares of company stock worth $2,269,920. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Up 1.9 %

Shares of NASDAQ:FITB opened at $42.91 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $29.04 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $43.85. The business has a fifty day moving average price of $41.32 and a two-hundred day moving average price of $38.29.

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 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 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 EPS. Analysts forecast that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, May 31st. Evercore ISI cut their price target on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and an average 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.