Healthcare of Ontario Pension Plan Trust Fund Takes $12.90 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 301,000 shares of the financial services provider's stock, valued at approximately $12,895,000.

Several other institutional investors and hedge funds have also bought and sold shares of FITB. Townsquare Capital LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at approximately $804,000. Transamerica Financial Advisors Inc. increased its holdings in shares of Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider's stock worth $143,000 after buying an additional 232 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Fifth Third Bancorp by 19.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,173,273 shares of the financial services provider's stock valued at $50,263,000 after buying an additional 190,228 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth $121,000. Finally, FMR LLC grew its position in Fifth Third Bancorp by 5.7% in the third quarter. FMR LLC now owns 1,692,599 shares of the financial services provider's stock worth $72,511,000 after acquiring an additional 91,574 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Trading Down 0.2 %

Shares of FITB stock traded down $0.10 during trading hours on Friday, reaching $48.06. The company's stock had a trading volume of 2,029,811 shares, compared to its average volume of 4,570,171. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $32.23 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.30 and a beta of 1.21. The firm's fifty day simple moving average is $44.70 and its 200 day simple moving average is $41.03. Fifth Third Bancorp has a one year low of $28.29 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current 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 issued a $0.37 dividend. The ex-dividend date of this dividend 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 yield of 3.08%. Fifth Third Bancorp's dividend payout ratio (DPR) is 49.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FITB shares. Evercore ISI raised their price target 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. Wells Fargo & Company boosted 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. Baird R W cut shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Barclays boosted their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Finally, StockNews.com cut shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of "Hold" and an average price target of $43.62.

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.