Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 19.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,173,273 shares of the financial services provider’s stock after acquiring an additional 190,228 shares during the period. BNP Paribas Financial Markets’ holdings in Fifth Third Bancorp were worth $50,263,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its holdings in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at $34,000. Hexagon Capital Partners LLC raised its position in shares of Fifth Third Bancorp by 56.9% in the 3rd 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. MidAtlantic Capital Management Inc. acquired a new position in Fifth Third Bancorp in the third quarter valued at $39,000. Finally, Family Firm Inc. purchased a new stake in Fifth Third Bancorp during the second quarter valued at about $52,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley increased their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $43.62.

Fifth Third Bancorp Price Performance

FITB opened at $48.16 on Friday. The company has a market capitalization of $32.29 billion, a P/E ratio of 16.00, a PEG ratio of 2.32 and a beta of 1.21. The company has a 50-day moving average of $44.61 and a 200-day moving average of $40.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a 1-year low of $26.89 and a 1-year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.37 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.07%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.