Mesirow Financial Investment Management Inc. Sells 38,913 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mesirow Financial Investment Management Inc. trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 626,974 shares of the financial services provider's stock after selling 38,913 shares during the period. Mesirow Financial Investment Management Inc. owned approximately 0.09% of Fifth Third Bancorp worth $26,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FITB. Quent Capital LLC grew its position in Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 248 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Fifth Third Bancorp by 2.6% during the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider's stock valued at $433,000 after purchasing an additional 259 shares during the last quarter. Bailard Inc. increased its position in Fifth Third Bancorp by 0.5% during the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider's stock worth $1,885,000 after purchasing an additional 264 shares in the last quarter. Lockerman Financial Group Inc. boosted its position in Fifth Third Bancorp by 3.9% in the third quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider's stock valued at $299,000 after buying an additional 264 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in Fifth Third Bancorp by 2.0% in the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider's stock valued at $513,000 after buying an additional 278 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 0.7 %

Shares of Fifth Third Bancorp stock traded up $0.33 during trading on Friday, reaching $46.26. 3,674,738 shares of the company traded hands, compared to its average volume of 5,063,957. 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 $31.02 billion, a PE ratio of 15.37, a P/E/G ratio of 2.25 and a beta of 1.21. The company has a 50 day moving average price of $43.09 and a 200-day moving average price of $40.02. 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 posted 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 return on equity of 14.58% and a net margin of 16.58%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.37 per share. 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 boost from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FITB shares. Baird R W cut Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. StockNews.com downgraded Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday. Argus boosted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Barclays lifted their price target 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, Evercore ISI raised their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $42.28.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Jude Schramm sold 20,000 shares of the 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 transaction, the executive vice president now owns 114,422 shares of the company's stock, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp 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 transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. 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 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.