Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Swedbank AB

Swedbank AB cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 254,432 shares of the financial services provider’s stock after selling 1,584 shares during the quarter. Swedbank AB’s holdings in Fifth Third Bancorp were worth $10,900,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at about $259,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 2.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 28,747 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 652 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $474,000. GAMMA Investing LLC lifted its stake in Fifth Third Bancorp by 28.7% in the 1st quarter. GAMMA Investing LLC now owns 7,461 shares of the financial services provider’s stock valued at $278,000 after buying an additional 1,662 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in Fifth Third Bancorp during the 1st quarter valued at $56,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,000 shares of company stock worth $2,169,920 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Trading Up 0.9 %

NASDAQ FITB opened at $45.37 on Friday. The firm has a market capitalization of $31.04 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $45.57. The company’s 50 day moving average price is $42.05 and its 200 day moving average price is $39.02.

Fifth Third Bancorp (NASDAQ:FITB) last issued 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 net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the business posted $0.87 EPS. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.37 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.26%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore ISI upped their price objective 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. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Bank of America lifted their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.78.

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.