Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 16.6% in the 4th quarter, HoldingsChannel reports. The fund owned 64,073 shares of the financial services provider’s stock after selling 12,725 shares during the quarter. HB Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $2,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. QRG Capital Management Inc. lifted its holdings in shares of Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 9,444 shares during the last quarter. Boston Common Asset Management LLC lifted its holdings in shares of Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after purchasing an additional 34,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fifth Third Bancorp by 13.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after purchasing an additional 55,081 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $541,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after purchasing an additional 54,463 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

FITB opened at $44.34 on Monday. The stock has a market cap of $29.73 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.79 and a beta of 1.24. 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 simple moving average is $45.02 and its 200 day simple moving average is $42.86. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FITB. Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Morgan Stanley upped their price objective on 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. Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.92.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’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 approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp 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.