DoubleLine ETF Adviser LP Sells 473 Shares of Fifth Third Bancorp (NASDAQ:FITB)

DoubleLine ETF Adviser LP reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,038 shares of the financial services provider’s stock after selling 473 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Fifth Third Bancorp were worth $439,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Employees Retirement System of Texas lifted its position in shares of Fifth Third Bancorp by 38.7% during the 2nd quarter. Employees Retirement System of Texas now owns 1,433,900 shares of the financial services provider’s stock valued at $52,323,000 after acquiring an additional 399,900 shares during the period. AQR Capital Management LLC increased its stake in Fifth Third Bancorp by 63.3% in the second quarter. AQR Capital Management LLC now owns 72,611 shares of the financial services provider’s stock valued at $2,615,000 after purchasing an additional 28,156 shares in the last quarter. AXA S.A. raised its holdings in shares of Fifth Third Bancorp by 171.5% during the second quarter. AXA S.A. now owns 51,860 shares of the financial services provider’s stock valued at $1,892,000 after purchasing an additional 32,756 shares during the period. Fred Alger Management LLC boosted its position in shares of Fifth Third Bancorp by 8.5% during the 2nd quarter. Fred Alger Management LLC now owns 50,844 shares of the financial services provider’s stock worth $1,855,000 after purchasing an additional 3,978 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Fifth Third Bancorp by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 130,909 shares of the financial services provider’s stock valued at $4,777,000 after buying an additional 49,601 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $863,802.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,500 shares of company stock worth $2,269,920. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Up 1.9 %

Shares of NASDAQ:FITB opened at $42.91 on Friday. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $43.85. The company has a market capitalization of $29.04 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. The business has a fifty day moving average price of $41.32 and a two-hundred day moving average price of $38.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the previous year, the company posted $0.87 EPS. Analysts forecast that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 44.44%.

Analyst Ratings Changes

Several research analysts have issued reports on FITB shares. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Argus upped 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. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $41.16.

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.