KBC Group NV Has $102.44 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

KBC Group NV decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 28.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,391,294 shares of the financial services provider’s stock after selling 963,864 shares during the quarter. KBC Group NV owned about 0.35% of Fifth Third Bancorp worth $102,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Venturi Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC bought a new position in shares of Fifth Third Bancorp in the second quarter valued at approximately $34,000. Hexagon Capital Partners LLC increased its position in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $53,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent research reports. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Bank of America increased their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Barclays boosted their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada increased their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $42.28.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $47.20 on Thursday. The company has a 50-day simple moving average of $43.28 and a two-hundred day simple moving average of $40.19. Fifth Third Bancorp has a 12-month low of $25.94 and a 12-month high of $48.10. The firm has a market cap of $31.65 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.26 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company earned $0.92 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. This is a positive change 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 3.14%. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Insiders Place Their Bets

In other news, 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 transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction 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 sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.