Busey Bank Decreases Position in Fifth Third Bancorp (NASDAQ:FITB)

Busey Bank decreased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 16.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,199 shares of the financial services provider’s stock after selling 1,606 shares during the quarter. Busey Bank’s holdings in Fifth Third Bancorp were worth $351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FITB. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth about $34,000. Hexagon Capital Partners LLC boosted its position in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $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 first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares during the period. Family Firm Inc. purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth about $52,000. Finally, Blue Trust Inc. boosted its position in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock worth $60,000 after buying an additional 914 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 20,000 shares of the firm’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 sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 1.9 %

Shares of NASDAQ FITB opened at $43.22 on Friday. The company has a market cap of $29.56 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 12-month low of $22.75 and a 12-month high of $45.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $42.49 and its 200 day simple moving average is $39.30.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.31 EPS 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 $0.37 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Analyst Ratings Changes

Several research firms recently commented on FITB. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Evercore ISI boosted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.28.

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.