Universal Beteiligungs und Servicegesellschaft mbH Sells 33,055 Shares of Fifth Third Bancorp $FITB

Universal Beteiligungs und Servicegesellschaft mbH trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 9.4% in the second quarter, Holdings Channel reports. The firm owned 317,309 shares of the financial services provider’s stock after selling 33,055 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Fifth Third Bancorp were worth $13,051,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at approximately $334,805,000. Charles Schwab Investment Management Inc. increased its holdings in Fifth Third Bancorp by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,908,401 shares of the financial services provider’s stock worth $898,009,000 after buying an additional 1,321,554 shares during the last quarter. Invesco Ltd. raised its position in Fifth Third Bancorp by 5.1% during the first quarter. Invesco Ltd. now owns 17,736,353 shares of the financial services provider’s stock worth $695,265,000 after acquiring an additional 862,374 shares in the last quarter. Nordea Investment Management AB lifted its stake in Fifth Third Bancorp by 103.0% in the second quarter. Nordea Investment Management AB now owns 1,354,288 shares of the financial services provider’s stock valued at $56,095,000 after acquiring an additional 687,275 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Fifth Third Bancorp by 8.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,160,367 shares of the financial services provider’s stock valued at $346,326,000 after acquiring an additional 654,746 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other news, Director Evan Bayh purchased 3,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was bought at an average price of $41.22 per share, with a total value of $123,660.00. Following the acquisition, the director owned 84,942 shares in the company, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Stephens set a $52.00 price objective on Fifth Third Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Argus boosted their target price on Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a report on Monday, October 20th. Finally, UBS Group upped their price objective on shares of Fifth Third Bancorp from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.35.

Fifth Third Bancorp Trading Up 0.3%

Shares of FITB stock opened at $41.48 on Thursday. The stock has a market cap of $27.42 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $43.29 and a 200 day simple moving average of $42.03.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. On average, research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.60 annualized dividend and a yield of 3.9%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s payout ratio is 47.76%.

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.