Fifth Third Bancorp $FITB Shares Sold by Swedbank AB

Swedbank AB trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.1% during the third quarter, HoldingsChannel.com reports. The fund owned 272,595 shares of the financial services provider’s stock after selling 11,801 shares during the period. Swedbank AB’s holdings in Fifth Third Bancorp were worth $12,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Evolution Wealth Management Inc. acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $26,000. Activest Wealth Management lifted its stake in Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after buying an additional 626 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Fifth Third Bancorp in the first quarter worth about $27,000. GoalVest Advisory LLC increased its position in shares of Fifth Third Bancorp by 246.3% in the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 532 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $32,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $48.41 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $48.71. The business’s 50-day moving average price is $44.15 and its two-hundred day moving average price is $43.42. The company has a market capitalization of $32.00 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The business had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. Analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 47.76%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FITB shares. Citigroup raised their price objective on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Janney Montgomery Scott lifted their price target on Fifth Third Bancorp from $50.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Morgan Stanley set a $60.00 price target on Fifth Third Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Argus raised their price objective on Fifth Third Bancorp from $46.00 to $49.00 in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group upped their target price on Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.15.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Evan Bayh bought 3,000 shares of the stock in a transaction on Monday, October 20th. The shares were acquired at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the transaction, the director directly owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.53% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.