Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC cut its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,073 shares of the financial services provider's stock after selling 12,725 shares during the quarter. HB Wealth Management LLC's holdings in Fifth Third Bancorp were worth $2,709,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FITB. Charles Schwab Investment Management Inc. grew its stake in Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock valued at $889,978,000 after acquiring an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at approximately $28,490,000. Millennium Management LLC increased its holdings 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 valued at $23,678,000 after purchasing an additional 583,781 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock worth $57,005,000 after buying an additional 575,449 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock worth $242,713,000 after buying an additional 409,292 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Morgan Stanley boosted 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 report on Monday, September 30th. Baird R W downgraded shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Citigroup raised their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $45.92.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $44.34 on Monday. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The company has a fifty day simple moving average of $45.02 and a two-hundred day simple moving average of $42.86. 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 company has a market cap of $29.73 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.34%. Fifth Third Bancorp's dividend payout ratio (DPR) is 49.17%.

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.