DekaBank Deutsche Girozentrale Acquires 698 Shares of Fifth Third Bancorp (NASDAQ:FITB)

DekaBank Deutsche Girozentrale increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,590 shares of the financial services provider’s stock after purchasing an additional 698 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Fifth Third Bancorp were worth $5,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Fifth Third Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after purchasing an additional 734,403 shares during the last quarter. Capital World Investors lifted its holdings in 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 buying an additional 5,512,333 shares during the period. Norges Bank purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $257,189,000. LSV Asset Management lifted its holdings in Fifth Third Bancorp by 2.3% in the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after buying an additional 99,593 shares during the period. Finally, KBC Group NV lifted its holdings in Fifth Third Bancorp by 341.8% in the fourth quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after buying an additional 1,492,124 shares during the period. 83.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp 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 of the company’s stock, valued at approximately $4,805,724. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,500 shares of company stock valued at $2,269,920. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $42.51 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $43.01. The firm has a market cap of $29.08 billion, a P/E ratio of 13.50, a PEG ratio of 1.93 and a beta of 1.22. The company has a 50 day moving average of $40.85 and a 200 day moving average of $38.02.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 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 during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm posted $0.87 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 46.98%.

Analyst Ratings Changes

Several analysts have commented on FITB shares. Argus raised their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group lifted their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI lowered their target price on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Finally, Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.56.

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.