Everence Capital Management Inc. Sells 11,590 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Everence Capital Management Inc. decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 38.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,470 shares of the financial services provider’s stock after selling 11,590 shares during the period. Everence Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $781,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. raised its position in Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 232 shares during the period. Quent Capital LLC lifted its stake in shares of Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co increased its position in shares of Fifth Third Bancorp by 2.6% during the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 259 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in Fifth Third Bancorp by 1.2% during the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock valued at $932,000 after buying an additional 260 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $42.39 on Friday. The stock’s 50-day moving average is $45.34 and its 200 day moving average is $42.35. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. 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 company has a market cap of $28.42 billion, a P/E ratio of 14.08, a PEG ratio of 2.19 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share 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 the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. Research analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value 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 $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FITB shares. Citigroup boosted 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. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Evercore ISI boosted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley boosted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.32.

Fifth Third Bancorp 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.