Fifth Third Bancorp (NASDAQ:FITB) Stake Lowered by M&G Plc

M&G Plc trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,265 shares of the financial services provider’s stock after selling 2,582 shares during the period. M&G Plc’s holdings in Fifth Third Bancorp were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FITB. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Hexagon Capital Partners LLC lifted its stake in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares during the last quarter. Family Firm Inc. bought a new stake in Fifth Third Bancorp in the second quarter worth approximately $52,000. Catalyst Capital Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $53,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 1,787.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,269 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp 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 directly owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. 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 hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on FITB shares. Argus increased their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley raised their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Bank of America upped their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.28.

Fifth Third Bancorp Stock Up 0.7 %

Shares of FITB stock opened at $46.26 on Friday. The stock has a market cap of $31.31 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.05 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a fifty day moving average price of $43.09 and a 200 day moving average price of $40.00. Fifth Third Bancorp has a one year low of $24.64 and a one year high of $46.90.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $0.92 earnings per share. Fifth Third Bancorp’s revenue was up 1.2% on a year-over-year basis. Analysts predict that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was 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 (DPR) is 49.17%.

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.