Banque Cantonale Vaudoise Sells 9,843 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Banque Cantonale Vaudoise trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 87.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,429 shares of the financial services provider’s stock after selling 9,843 shares during the period. Banque Cantonale Vaudoise’s holdings in Fifth Third Bancorp were worth $61,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FITB. Jupiter Asset Management Ltd. bought a new stake in Fifth Third Bancorp during the second quarter valued at about $33,337,000. Millennium Management LLC raised its stake in Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares during the period. Employees Retirement System of Texas lifted its holdings in Fifth Third Bancorp by 38.7% in the 2nd quarter. Employees Retirement System of Texas now owns 1,433,900 shares of the financial services provider’s stock worth $52,323,000 after purchasing an additional 399,900 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Fifth Third Bancorp by 4.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after purchasing an additional 399,827 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at approximately $11,290,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the business’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 completion of the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FITB shares. Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased 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 report on Monday, September 30th. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.62.

Fifth Third Bancorp Trading Up 1.7 %

Shares of FITB opened at $47.90 on Friday. The company’s fifty day simple moving average is $44.17 and its 200-day simple moving average is $40.71. The company has a market cap of $32.12 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.26 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a twelve month low of $26.89 and a twelve month high of $48.10.

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 (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. As a group, analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

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.