Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,888 shares of the financial services provider’s stock after selling 5,200 shares during the period. Nisa Investment Advisors LLC owned approximately 0.05% of Fifth Third Bancorp worth $16,069,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Richardson Financial Services Inc. raised its stake in shares of Fifth Third Bancorp by 10.0% in the third quarter. Richardson Financial Services Inc. now owns 8,474 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 768 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Fifth Third Bancorp by 0.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,408 shares of the financial services provider’s stock valued at $6,186,000 after buying an additional 993 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after buying an additional 55,081 shares in the last quarter. Ballentine Partners LLC raised its stake in Fifth Third Bancorp by 5.4% in the third quarter. Ballentine Partners LLC now owns 14,806 shares of the financial services provider’s stock valued at $634,000 after buying an additional 756 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Fifth Third Bancorp by 8.7% in the third quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock valued at $930,000 after buying an additional 1,740 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on FITB. Morgan Stanley raised their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Argus raised their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised their price target on 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 Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.28.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $44.01 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 52-week low of $22.93 and a 52-week high of $45.71. The business’s 50-day moving average price is $42.66 and its 200 day moving average price is $39.54. The firm has a market cap of $29.78 billion, a P/E ratio of 14.62, a P/E/G ratio of 2.09 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business earned $0.92 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.