Fifth Third Bancorp (NASDAQ:FITB) Position Reduced by Signaturefd LLC

Signaturefd LLC trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,807 shares of the financial services provider’s stock after selling 1,512 shares during the quarter. Signaturefd LLC’s holdings in Fifth Third Bancorp were worth $442,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FITB. CWM LLC boosted its stake in Fifth Third Bancorp by 8.7% during the 3rd quarter. CWM LLC now owns 27,550 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 2,195 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Fifth Third Bancorp by 46.3% during the 3rd quarter. Global Retirement Partners LLC now owns 3,147 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 996 shares during the last quarter. SG Americas Securities LLC boosted its stake in Fifth Third Bancorp by 3.7% during the 3rd quarter. SG Americas Securities LLC now owns 40,267 shares of the financial services provider’s stock valued at $1,020,000 after acquiring an additional 1,442 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Fifth Third Bancorp by 4.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,910 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 465 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in Fifth Third Bancorp by 24.3% during the 3rd quarter. Private Trust Co. NA now owns 2,083 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 407 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB stock opened at $37.23 on Thursday. The company has a market capitalization of $25.36 billion, a P/E ratio of 11.82, a PEG ratio of 1.40 and a beta of 1.27. The company has a 50-day simple moving average of $35.42 and a 200 day simple moving average of $32.10. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the company posted $0.78 earnings per share. Sell-side analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.76%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FITB shares. Barclays lifted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday. Finally, Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $36.31.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock valued at $1,693,888 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.