WBI Investments Inc. Sells 13,277 Shares of Fifth Third Bancorp (NASDAQ:FITB)

WBI Investments Inc. cut its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 45.7% during the 3rd quarter, Holdings Channel reports. The firm owned 15,751 shares of the financial services provider’s stock after selling 13,277 shares during the period. WBI Investments Inc.’s holdings in Fifth Third Bancorp were worth $399,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairfield Bush & CO. boosted its position in Fifth Third Bancorp by 1.4% during the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 502 shares in the last quarter. Aviva PLC boosted its position in Fifth Third Bancorp by 22.0% during the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock valued at $11,008,000 after acquiring an additional 46,064 shares in the last quarter. Prudential PLC bought a new stake in Fifth Third Bancorp during the 1st quarter valued at approximately $754,000. Cetera Investment Advisers boosted its position in Fifth Third Bancorp by 13.0% during the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock valued at $2,365,000 after acquiring an additional 6,341 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Fifth Third Bancorp by 60.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock valued at $5,224,000 after acquiring an additional 45,910 shares in the last quarter. 77.96% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $34.11 on Tuesday. The firm has a market cap of $23.23 billion, a PE ratio of 10.56, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $33.96 and a two-hundred day simple moving average of $28.90. Fifth Third Bancorp has a 1-year low of $22.11 and a 1-year high of $37.51.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period in the previous year, the business earned $1.04 EPS. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.18 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.35 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.40 annualized dividend and a dividend yield of 4.10%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 43.34%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FITB shares. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 20th. Barclays lifted their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada boosted their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.63.

View Our Latest Stock Analysis on Fifth Third Bancorp

Fifth Third Bancorp Company Profile

(Free Report)

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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