International Assets Investment Management LLC Trims Holdings in Fifth Third Bancorp (NASDAQ:FITB)

International Assets Investment Management LLC reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 236,478 shares of the financial services provider’s stock after selling 578 shares during the period. International Assets Investment Management LLC’s holdings in Fifth Third Bancorp were worth $8,156,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FITB. Invesco Ltd. increased its position in Fifth Third Bancorp by 8.4% in the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after acquiring an additional 1,500,653 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after purchasing an additional 393,937 shares during the last quarter. Boston Partners lifted its holdings in shares of Fifth Third Bancorp by 32.1% during the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after purchasing an additional 3,176,903 shares during the period. Northern Trust Corp grew its position in Fifth Third Bancorp by 3.9% in the 3rd quarter. Northern Trust Corp now owns 6,774,568 shares of the financial services provider’s stock valued at $171,600,000 after buying an additional 253,405 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Fifth Third Bancorp by 12.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,601,884 shares of the financial services provider’s stock valued at $65,906,000 after buying an additional 281,557 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Evercore ISI lifted their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.50.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 11th. The stock was 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 owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a legal 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 stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $38.00 on Tuesday. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $38.09. The stock has a market cap of $25.88 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The business’s fifty day moving average price is $35.97 and its two-hundred day moving average price is $32.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the business posted $0.78 EPS. On average, analysts forecast that Fifth Third Bancorp will post 3.22 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

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.