Xponance Inc. Reduces Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Xponance Inc. lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 92,143 shares of the financial services provider’s stock after selling 2,890 shares during the period. Xponance Inc.’s holdings in Fifth Third Bancorp were worth $3,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC raised its position in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares during the period. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at $36,000. Clear Street Markets LLC lifted its stake in shares of Fifth Third Bancorp by 93.4% in the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 647 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp during the 4th quarter worth $38,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 5.9 %

FITB stock opened at $36.25 on Monday. The company’s 50 day moving average price is $35.21 and its 200 day moving average price is $31.89. The firm has a market capitalization of $24.69 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.38 and a beta of 1.27. 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 debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FITB shares. Evercore ISI upped their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. UBS Group restated a “neutral” rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Robert W. Baird reiterated a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, 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 research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.63.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. 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 Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the transaction, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.