Fifth Third Bancorp (NASDAQ:FITB) Stock Position Raised by Atom Investors LP

Atom Investors LP increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 108.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,643 shares of the financial services provider's stock after buying an additional 27,397 shares during the quarter. Atom Investors LP's holdings in Fifth Third Bancorp were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in FITB. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 316 shares during the period. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $34,000. Hexagon Capital Partners LLC raised its holdings in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after buying an additional 312 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the third quarter worth $39,000. Finally, Family Firm Inc. purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $52,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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. Evercore ISI boosted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. Baird R W downgraded shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company lifted 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 note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $44.19.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction on 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 approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded down $0.59 during midday trading on Tuesday, hitting $46.98. The company's stock had a trading volume of 651,386 shares, compared to its average volume of 4,546,696. The firm has a market cap of $31.50 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.30 and a beta of 1.22. Fifth Third Bancorp has a 1-year low of $30.01 and a 1-year high of $49.07. The firm's fifty day moving average price is $44.80 and its 200-day moving average price is $41.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed 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 represents a $1.48 annualized dividend and a yield of 3.15%. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is presently 49.17%.

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.