Fifth Third Bancorp (NASDAQ:FITB) Stock Position Lifted by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,244 shares of the financial services provider’s stock after acquiring an additional 283 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Fifth Third Bancorp were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FITB. Capital World Investors grew its stake in Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after buying an additional 5,512,333 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Fifth Third Bancorp during the second quarter worth about $33,337,000. Millennium Management LLC lifted its position in Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares during the last quarter. Vest Financial LLC bought a new stake in Fifth Third Bancorp in the 1st quarter valued at about $19,401,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Fifth Third Bancorp by 37.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,629,456 shares of the financial services provider’s stock valued at $60,632,000 after purchasing an additional 442,121 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their price target on 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. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, Bank of America upped their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.78.

Fifth Third Bancorp Trading Up 0.7 %

Fifth Third Bancorp stock opened at $44.65 on Wednesday. The firm has a market cap of $30.54 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $45.57. The firm’s 50 day moving average price is $41.81 and its two-hundred day moving average price is $38.94. 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 announced its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm earned $0.87 earnings per share. On average, research analysts predict that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.31%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp 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 transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. 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 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 sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,000 shares of company stock valued at $2,169,920 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.