Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Fiduciary Trust Co

Fiduciary Trust Co grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 36.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 26,755 shares of the financial services provider’s stock after buying an additional 7,201 shares during the period. Fiduciary Trust Co’s holdings in Fifth Third Bancorp were worth $1,146,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. CreativeOne Wealth LLC acquired a new position in Fifth Third Bancorp during the third quarter worth about $271,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $12,895,000. Townsquare Capital LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $804,000. Transamerica Financial Advisors Inc. boosted its holdings in shares of Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Fifth Third Bancorp by 19.4% in the third quarter. BNP Paribas Financial Markets now owns 1,173,273 shares of the financial services provider’s stock valued at $50,263,000 after purchasing an additional 190,228 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $48.06 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $32.23 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.30 and a beta of 1.21. The stock has a 50-day moving average of $44.70 and a two-hundred day moving average of $41.03. Fifth Third Bancorp has a 1-year low of $28.29 and a 1-year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business 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 company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. As a group, analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.37 dividend. 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 3.08%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Evercore ISI boosted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Barclays increased their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.62.

About Fifth Third Bancorp

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.