Huntington National Bank Has $4.96 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Huntington National Bank cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,692 shares of the financial services provider’s stock after selling 4,939 shares during the period. Huntington National Bank’s holdings in Fifth Third Bancorp were worth $4,956,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FITB. Arjuna Capital bought a new position in Fifth Third Bancorp in the third quarter valued at about $368,000. MQS Management LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter valued at approximately $774,000. Aptus Capital Advisors LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at approximately $206,000. Verus Capital Partners LLC boosted its position in Fifth Third Bancorp by 78.3% during the 3rd quarter. Verus Capital Partners LLC now owns 10,862 shares of the financial services provider’s stock worth $465,000 after buying an additional 4,770 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Fifth Third Bancorp by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,731,656 shares of the financial services provider’s stock worth $74,184,000 after acquiring an additional 19,572 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This represents a 14.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $47.26 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $43.38 and its 200-day moving average price is $40.24. The firm has a market capitalization of $31.69 billion, a P/E ratio of 15.70, a P/E/G ratio of 2.26 and a beta of 1.21. Fifth Third Bancorp has a 1-year low of $26.63 and a 1-year high of $48.10.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) 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 the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. Equities research analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 49.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FITB. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Barclays lifted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Argus increased their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $42.28.

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.