Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 45.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 837 shares of the financial services provider’s stock after selling 695 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Fifth Third Bancorp were worth $36,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors grew its stake 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 worth $1,733,847,000 after acquiring an additional 5,512,333 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock worth $356,031,000 after purchasing an additional 281,494 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after purchasing an additional 399,827 shares during the period. LSV Asset Management raised its position in Fifth Third Bancorp by 2.3% in the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock valued at $165,015,000 after purchasing an additional 99,593 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Fifth Third Bancorp by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock worth $62,096,000 after buying an additional 56,298 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 0.4 %

NASDAQ FITB opened at $44.06 on Friday. The firm’s fifty day moving average is $42.40 and its two-hundred day moving average is $39.27. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $45.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $30.14 billion, a PE ratio of 13.99, a P/E/G ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Analysts expect that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Barclays boosted their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Evercore ISI increased their price objective 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. Finally, Argus boosted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $42.28.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.