Natixis Advisors LLC Buys 63,514 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Natixis Advisors LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800,449 shares of the financial services provider's stock after purchasing an additional 63,514 shares during the period. Natixis Advisors LLC owned about 0.12% of Fifth Third Bancorp worth $34,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FITB. Capital World Investors grew its holdings in shares of Fifth Third Bancorp by 13.4% during the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider's stock worth $1,733,847,000 after purchasing an additional 5,512,333 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Fifth Third Bancorp in the second quarter worth approximately $33,337,000. Millennium Management LLC lifted its stake in shares of Fifth Third Bancorp by 896.7% in the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider's stock worth $23,678,000 after acquiring an additional 583,781 shares during the period. Employees Retirement System of Texas lifted its stake 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 worth $52,323,000 after acquiring an additional 399,900 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Fifth Third Bancorp by 4.8% in 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 acquiring an additional 399,827 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares of the company's stock, valued at $4,805,724. The trade was a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

FITB has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley boosted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Finally, StockNews.com lowered Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $43.09.

Fifth Third Bancorp Stock Down 0.4 %

Shares of FITB traded down $0.17 during mid-day trading on Monday, reaching $46.82. The company had a trading volume of 4,703,464 shares, compared to its average volume of 4,600,495. Fifth Third Bancorp has a 52 week low of $26.89 and a 52 week high of $48.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $31.39 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 2.25 and a beta of 1.21. The firm has a 50-day moving average price of $43.61 and a 200 day moving average price of $40.41.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued 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 firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

Fifth Third Bancorp Company 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.