Quantinno Capital Management LP Grows Position in Fifth Third Bancorp (NASDAQ:FITB)

Quantinno Capital Management LP increased its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 17.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,257 shares of the financial services provider's stock after buying an additional 10,991 shares during the quarter. Quantinno Capital Management LP's holdings in Fifth Third Bancorp were worth $3,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FITB. Venturi Wealth Management LLC increased its position 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 valued at $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Hexagon Capital Partners LLC boosted its holdings in shares of 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 acquiring an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $39,000. Finally, Family Firm Inc. purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $52,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.5 %

Shares of FITB stock traded up $0.24 on Tuesday, hitting $46.77. The stock had a trading volume of 1,935,619 shares, compared to its average volume of 4,526,327. The company has a market cap of $31.36 billion, a PE ratio of 15.46, a P/E/G ratio of 2.26 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $45.23 and a 200 day moving average price of $41.45. Fifth Third Bancorp has a one year low of $30.47 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. 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. Stockholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.16%. Fifth Third Bancorp's payout ratio is presently 49.17%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction that occurred 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 in the company, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FITB shares. Barclays raised their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Baird R W lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective 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. Finally, Evercore ISI lifted their price objective on shares of 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. One investment 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's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $44.81.

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.