Glenmede Trust Co. NA Cuts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Glenmede Trust Co. NA lessened its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 20.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,352 shares of the financial services provider's stock after selling 10,944 shares during the period. Glenmede Trust Co. NA's holdings in Fifth Third Bancorp were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after buying an additional 316 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of Fifth Third Bancorp during the second quarter worth $34,000. Hexagon Capital Partners LLC raised its holdings in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $39,000. Finally, Family Firm Inc. acquired a new position in Fifth Third Bancorp in the second quarter valued at $52,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the firm'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 value of $327,525.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Trading Down 1.0 %

Shares of Fifth Third Bancorp stock traded down $0.49 on Monday, hitting $47.57. 3,078,339 shares of the company's stock traded hands, compared to its average volume of 4,563,741. The stock has a market capitalization of $31.90 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. Fifth Third Bancorp has a one year low of $30.01 and a one year high of $49.07. The firm's 50-day moving average price is $44.80 and its two-hundred day moving average price is $41.13. 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 (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share 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 in the prior year, the company earned $0.92 earnings per share. The firm's quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts expect 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. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. 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. This represents a $1.48 annualized dividend and a yield of 3.11%. Fifth Third Bancorp's dividend payout ratio (DPR) is 49.17%.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Morgan Stanley boosted their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Evercore ISI boosted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a research report on Wednesday, October 2nd. Finally, Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. One equities research 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's stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average price target of $43.62.

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.