Fifth Third Bancorp (NASDAQ:FITB) Position Lowered by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,819,292 shares of the financial services provider's stock after selling 71,918 shares during the period. Bank of Montreal Can owned 0.27% of Fifth Third Bancorp worth $78,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of FITB. Venturi Wealth Management LLC grew 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 valued at $29,000 after acquiring an additional 316 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Fifth Third Bancorp by 56.9% in 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 during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $39,000. American Capital Advisory LLC purchased a new stake in Fifth Third Bancorp in the second quarter valued at approximately $34,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter worth about $53,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $0.09 during midday trading on Wednesday, reaching $48.16. 2,931,867 shares of the company traded hands, compared to its average volume of 4,581,216. The firm's 50 day simple moving average is $44.52 and its two-hundred day simple moving average is $40.92. The firm has a market cap of $32.29 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. 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 1-year low of $26.89 and a 1-year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released 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). 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.92 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS 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. Investors of record on Monday, September 30th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.07%. This is a boost from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's dividend payout ratio is 49.17%.

Wall Street Analyst Weigh In

Several brokerages have commented on FITB. Barclays raised their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Evercore ISI increased their price target on shares of 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. Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company lifted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $43.62.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm'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 transaction of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

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.