First National Trust Co Acquires 23,890 Shares of Fifth Third Bancorp (NASDAQ:FITB)

First National Trust Co boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 44.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,099 shares of the financial services provider's stock after purchasing an additional 23,890 shares during the period. First National Trust Co's holdings in Fifth Third Bancorp were worth $3,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quent Capital LLC increased its holdings in shares of Fifth Third Bancorp by 9.9% during the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider's stock worth $118,000 after buying an additional 248 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider's stock worth $433,000 after buying an additional 259 shares in the last quarter. Bailard Inc. increased its holdings in shares of Fifth Third Bancorp by 0.5% during the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider's stock worth $1,885,000 after buying an additional 264 shares in the last quarter. Lockerman Financial Group Inc. increased its holdings in shares of Fifth Third Bancorp by 3.9% during the third quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider's stock worth $299,000 after buying an additional 264 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Fifth Third Bancorp by 2.0% during the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider's stock worth $513,000 after buying an additional 278 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Trading Up 0.1 %

Shares of NASDAQ FITB traded up $0.03 during midday trading on Wednesday, reaching $47.20. 2,468,677 shares of the stock were exchanged, compared to its average volume of 4,612,243. The business has a 50-day simple moving average of $43.28 and a two-hundred day simple moving average of $40.19. 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 12 month low of $25.94 and a 12 month high of $48.10. The company has a market capitalization of $31.65 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.26 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly 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). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm earned $0.92 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.14%. Fifth Third Bancorp's payout ratio is currently 49.17%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FITB shares. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Evercore ISI raised 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 report on Wednesday, October 2nd. StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. 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 report on Monday, October 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $42.28.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction dated 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 in the company, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.