Atria Investments Inc Sells 8,217 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Atria Investments Inc trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 14.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,354 shares of the financial services provider’s stock after selling 8,217 shares during the period. Atria Investments Inc’s holdings in Fifth Third Bancorp were worth $2,029,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Assetmark Inc. raised its holdings in shares of Fifth Third Bancorp by 12.9% during the third quarter. Assetmark Inc. now owns 4,126 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 471 shares during the period. Shoker Investment Counsel Inc. grew its holdings in shares of Fifth Third Bancorp by 3.7% during the third quarter. Shoker Investment Counsel Inc. now owns 11,945 shares of the financial services provider’s stock valued at $512,000 after buying an additional 422 shares during the last quarter. TFB Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth about $223,000. Principal Financial Group Inc. raised its holdings in shares of Fifth Third Bancorp by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock worth $35,194,000 after acquiring an additional 14,137 shares during the last quarter. Finally, Jackson Square Capital LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at about $454,000. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FITB. Bank of America increased their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley lifted 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. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Barclays lifted their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.28.

Fifth Third Bancorp Trading Up 0.1 %

Shares of Fifth Third Bancorp stock opened at $47.26 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $31.69 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.26 and a beta of 1.21. Fifth Third Bancorp has a 52-week low of $26.63 and a 52-week high of $48.10. The stock’s 50-day simple moving average is $43.38 and its 200 day simple moving average is $40.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results 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). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.34 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. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.13%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 20,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % 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.