Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 23.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,022 shares of the financial services provider’s stock after selling 1,803 shares during the period. Blueshift Asset Management LLC’s holdings in Fifth Third Bancorp were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FITB. Jupiter Asset Management Ltd. acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $33,337,000. Charles Schwab Investment Management Inc. increased its stake in Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after buying an additional 732,651 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after acquiring an additional 583,781 shares during the last quarter. Employees Retirement System of Texas lifted its position in shares of Fifth Third Bancorp by 38.7% in the second quarter. Employees Retirement System of Texas now owns 1,433,900 shares of the financial services provider’s stock valued at $52,323,000 after acquiring an additional 399,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Fifth Third Bancorp by 4.8% during the third 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 in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.2 %

FITB opened at $48.16 on Friday. Fifth Third Bancorp has a 52 week low of $26.89 and a 52 week high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $44.61 and a 200-day simple moving average of $40.97. The firm has a market cap of $32.29 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.32 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share 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 analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.07%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Evercore ISI raised their price objective 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. Wells Fargo & Company boosted their price target 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. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Barclays increased their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average price target of $43.62.

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.