Fifth Third Bancorp (NASDAQ:FITB) Stock Holdings Cut by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,148,765 shares of the financial services provider's stock after selling 298,764 shares during the period. Los Angeles Capital Management LLC owned 0.17% of Fifth Third Bancorp worth $49,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Capital Advisory LLC purchased a new stake in Fifth Third Bancorp in the second quarter valued at $34,000. Hexagon Capital Partners LLC grew its stake in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after buying an additional 312 shares during the last quarter. Family Firm Inc. acquired a new position in Fifth Third Bancorp during the second quarter worth approximately $52,000. Catalyst Capital Advisors LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at approximately $53,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 1,787.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 1,269 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 0.7 %

FITB stock traded up $0.33 during trading on Friday, reaching $46.26. The stock had a trading volume of 3,674,738 shares, compared to its average volume of 5,063,957. 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 firm has a fifty day moving average price of $43.09 and a 200 day moving average price of $40.02. The company has a market capitalization of $31.02 billion, a P/E ratio of 15.37, a PEG ratio of 2.25 and a beta of 1.21. Fifth Third Bancorp has a 1-year low of $24.64 and a 1-year high of $46.90.

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 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 business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the prior year, the company posted $0.92 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. 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. Fifth Third Bancorp's dividend payout ratio is 49.17%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Morgan Stanley raised their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Baird R W lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. Finally, Argus lifted their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. One equities 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, Fifth Third Bancorp currently has a consensus rating of "Hold" and an average price target of $42.28.

Insider Transactions at Fifth Third Bancorp

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

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.