Fifth Third Bancorp (NASDAQ:FITB) Stock Holdings Decreased by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,794 shares of the financial services provider’s stock after selling 6,013 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Fifth Third Bancorp were worth $4,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB. Steward Partners Investment Advisory LLC grew its stake in Fifth Third Bancorp by 512.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,035 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 12,582 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Fifth Third Bancorp by 327.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,675 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,283 shares during the period. Tower Research Capital LLC TRC increased its stake in Fifth Third Bancorp by 147.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 123,592 shares of the financial services provider’s stock valued at $4,263,000 after buying an additional 73,735 shares during the period. Crossmark Global Holdings Inc. lifted its position in Fifth Third Bancorp by 45.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 64,045 shares of the financial services provider’s stock worth $2,209,000 after buying an additional 20,023 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in shares of Fifth Third Bancorp by 44.4% during the 4th quarter. Cibc World Markets Corp now owns 157,939 shares of the financial services provider’s stock valued at $5,447,000 after acquiring an additional 48,583 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

FITB stock traded up $0.36 during mid-day trading on Friday, reaching $42.10. 3,368,861 shares of the stock traded hands, compared to its average volume of 4,620,026. The firm has a market capitalization of $28.80 billion, a PE ratio of 13.37, a P/E/G ratio of 2.03 and a beta of 1.22. The business has a 50-day moving average of $41.48 and a two-hundred day moving average of $38.58. 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 announced its 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 business had revenue of $3.32 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $0.87 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. 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 3.52%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 2,500 shares of the business’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 sale, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,500 shares of company stock valued at $2,269,920. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on FITB. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Stephens reiterated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Argus raised their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. One 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.78.

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.