BNP Paribas Financial Markets Acquires 190,228 Shares of Fifth Third Bancorp (NASDAQ:FITB)

BNP Paribas Financial Markets increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,173,273 shares of the financial services provider's stock after acquiring an additional 190,228 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.17% of Fifth Third Bancorp worth $50,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after buying an additional 316 shares during the period. Hexagon Capital Partners LLC increased its stake in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Fifth Third Bancorp during the third quarter worth $39,000. American Capital Advisory LLC acquired a new position in shares of Fifth Third Bancorp during the second quarter valued at about $34,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth about $53,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB traded down $0.10 during midday trading on Friday, hitting $48.06. 2,029,811 shares of the company traded hands, compared to its average volume of 4,570,171. The stock has a 50-day moving average of $44.61 and a 200-day moving average of $40.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a one year low of $28.29 and a one year high of $49.07. The firm has a market cap of $32.23 billion, a P/E ratio of 16.00, a PEG ratio of 2.30 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its 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 analysts' expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current fiscal 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 paid a $0.37 dividend. 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%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FITB. Morgan Stanley increased their price objective on 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. Wells Fargo & Company upped their target price 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. Citigroup boosted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Barclays upped their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Finally, Baird R W cut Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.