Greenleaf Trust Sells 634 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Greenleaf Trust lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,320 shares of the financial services provider’s stock after selling 634 shares during the quarter. Greenleaf Trust’s holdings in Fifth Third Bancorp were worth $2,541,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Fifth Third Bancorp by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 142,826 shares of the financial services provider’s stock worth $5,315,000 after acquiring an additional 1,940 shares during the last quarter. Atwater Malick LLC lifted its position in shares of Fifth Third Bancorp by 6.8% during the first quarter. Atwater Malick LLC now owns 6,287 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 400 shares in the last quarter. MCF Advisors LLC boosted its holdings in Fifth Third Bancorp by 0.8% during the first quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after purchasing an additional 328 shares during the last quarter. Gibson Capital LLC bought a new stake in Fifth Third Bancorp in the 1st quarter worth about $214,000. Finally, Founders Financial Securities LLC purchased a new stake in Fifth Third Bancorp in the 1st quarter valued at about $361,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.5 %

Shares of NASDAQ FITB opened at $43.87 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market cap of $30.01 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $45.71. The business has a 50-day simple moving average of $42.40 and a two-hundred day simple moving average of $39.27.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS 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 17.41% and a return on equity of 15.79%. Fifth Third Bancorp’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. Research analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FITB. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday. Barclays raised their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America boosted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Morgan Stanley raised 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 report on Monday, September 30th. Finally, Argus boosted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.28.

Insider Buying and Selling

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 stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.