US Bancorp DE reduced its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 10.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 435,404 shares of the financial services provider's stock after selling 48,188 shares during the period. US Bancorp DE owned 0.06% of Fifth Third Bancorp worth $18,653,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in FITB. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at $34,000. Hexagon Capital Partners LLC increased its stake in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after buying an additional 312 shares during the period. Centerpoint Advisors LLC boosted its position in shares of Fifth Third Bancorp by 125.0% in the 1st 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 last quarter. Family Firm Inc. bought a new position in shares of Fifth Third Bancorp in the 2nd quarter worth $52,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 1,787.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,269 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.
In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business'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 transaction, the executive vice president now owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business'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 transaction, the executive vice president now owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the business's stock in a transaction that occurred on 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 approximately $4,805,724. This trade 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 company insiders.
Shares of Fifth Third Bancorp stock opened at $43.14 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock's 50-day moving average is $42.81 and its 200-day moving average is $39.66. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 2.11 and a beta of 1.22. Fifth Third Bancorp has a one year low of $24.02 and a one year high of $45.71.
Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its 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). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts predict that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's payout ratio is currently 49.17%.
Several research firms have recently issued reports on FITB. StockNews.com lowered Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd. Barclays raised their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Morgan Stanley raised their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Finally, Evercore ISI lifted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $42.28.
Read Our Latest Stock Report on FITB
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.
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