KBC Group NV Sells 963,864 Shares of Fifth Third Bancorp (NASDAQ:FITB)

KBC Group NV reduced its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 28.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,391,294 shares of the financial services provider's stock after selling 963,864 shares during the quarter. KBC Group NV owned about 0.35% of Fifth Third Bancorp worth $102,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC lifted its holdings in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter worth about $34,000. Hexagon Capital Partners LLC boosted its holdings in shares of Fifth Third Bancorp by 56.9% in the 3rd 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. Family Firm Inc. bought a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at about $52,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $53,000. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Stock Up 0.2 %

Shares of NASDAQ FITB traded up $0.11 during mid-day trading on Thursday, hitting $47.31. 1,243,959 shares of the stock traded hands, compared to its average volume of 4,597,004. The company has a market cap of $31.72 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.26 and a beta of 1.21. The stock has a fifty day moving average price of $43.38 and a 200-day moving average price of $40.24. Fifth Third Bancorp has a 52 week low of $26.63 and a 52 week high of $48.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Research analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current 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 dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.13%. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 49.17%.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent research reports. Evercore ISI increased 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 research report on Wednesday, October 2nd. 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. Barclays boosted their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Argus increased their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Finally, Morgan Stanley upped 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $42.28.

About Fifth Third Bancorp

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.