Great Valley Advisor Group Inc. Cuts Position in Fifth Third Bancorp (NASDAQ:FITB)

Great Valley Advisor Group Inc. lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 10.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,113 shares of the financial services provider’s stock after selling 898 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Fifth Third Bancorp were worth $348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after buying an additional 248 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after buying an additional 259 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of Fifth Third Bancorp by 1.2% in the third quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after buying an additional 260 shares in the last quarter. Finally, Bailard Inc. lifted its stake in shares of Fifth Third Bancorp by 0.5% in the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock worth $1,885,000 after buying an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FITB shares. Evercore ISI upped their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Barclays increased their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.62.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $48.16 on Thursday. The firm has a fifty day moving average price of $44.52 and a 200-day moving average price of $40.92. 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 market cap of $32.29 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. Fifth Third Bancorp has a 1 year low of $26.89 and a 1 year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.07%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

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.