Fmr LLC Buys 91,574 Shares of Fifth Third Bancorp (NASDAQ:FITB)

FMR LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,692,599 shares of the financial services provider's stock after buying an additional 91,574 shares during the period. FMR LLC owned about 0.25% of Fifth Third Bancorp worth $72,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park National Corp OH increased its stake in shares of Fifth Third Bancorp by 15.0% in the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider's stock worth $1,514,000 after buying an additional 5,411 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. M&G Plc acquired a new position in Fifth Third Bancorp in the second quarter worth $1,254,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock worth $19,776,000 after purchasing an additional 55,081 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in Fifth Third Bancorp by 43.7% in the second quarter. Gateway Investment Advisers LLC now owns 194,908 shares of the financial services provider's stock worth $7,112,000 after purchasing an additional 59,239 shares during the period. Institutional investors own 83.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. 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. Morgan Stanley boosted their price target 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. Finally, Citigroup boosted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $44.81.

Insider Activity

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business'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 completion of the sale, the executive vice president now owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Trading Down 0.2 %

NASDAQ FITB traded down $0.11 on Friday, hitting $47.21. 3,197,219 shares of the company were exchanged, compared to its average volume of 4,540,618. The company's 50 day moving average price is $45.07 and its 200-day moving average price is $41.27. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $31.66 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. Fifth Third Bancorp has a twelve month low of $30.20 and a twelve month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.37 dividend. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.13%. Fifth Third Bancorp's dividend payout ratio is currently 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.