St. Johns Investment Management Company LLC Sells 343 Shares of Fifth Third Bancorp (NASDAQ:FITB)

St. Johns Investment Management Company LLC trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,285 shares of the financial services provider’s stock after selling 343 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Fifth Third Bancorp were worth $912,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Capital World Investors raised its position in Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after buying an additional 5,512,333 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fifth Third Bancorp by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after purchasing an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Fifth Third Bancorp by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock valued at $371,837,000 after purchasing an additional 399,827 shares during the period. LSV Asset Management boosted its holdings in Fifth Third Bancorp by 2.3% in the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after purchasing an additional 99,593 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Fifth Third Bancorp by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock worth $62,096,000 after purchasing an additional 56,298 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $43.22 on Friday. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.94 and a beta of 1.22. The company has a quick ratio of 0.81, a current 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 has a 52 week low of $22.75 and a 52 week high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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 return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts expect that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.42%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FITB shares. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. StockNews.com upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley increased 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 research note on Monday, September 30th. Argus boosted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada increased their price target 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. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus 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.