Massmutual Trust Co. FSB ADV Trims Position in Fifth Third Bancorp (NASDAQ:FITB)

Massmutual Trust Co. FSB ADV decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 100,919 shares of the financial services provider’s stock after selling 939 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Fifth Third Bancorp were worth $4,323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $29,000. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp during the second quarter worth approximately $34,000. Centerpoint Advisors LLC raised its stake in Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares during the period. Family Firm Inc. purchased a new position in Fifth Third Bancorp during the second quarter worth approximately $52,000. Finally, Mather Group LLC. purchased a new position in Fifth Third Bancorp during the first quarter worth approximately $56,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the company’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 directly 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 through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction 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 directly 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 through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the 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 completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock worth $2,269,920 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $41.74 on Friday. The firm’s 50 day moving average is $41.48 and its 200-day moving average is $38.54. The stock has a market capitalization of $28.55 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.03 and a beta of 1.22. 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 has a 12-month low of $22.49 and a 12-month high of $43.85.

Fifth Third Bancorp (NASDAQ:FITB) last released its 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 firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period last year, the business earned $0.87 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current fiscal 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 dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Argus increased their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Jefferies Financial Group raised their price target 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.78.

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.