MQS Management LLC Buys New Shares in Fifth Third Bancorp (NASDAQ:FITB)

MQS Management LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,056 shares of the financial services provider's stock, valued at approximately $774,000.

Several other institutional investors also recently modified their holdings of FITB. Capital World Investors grew its position in Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider's stock valued at $1,733,847,000 after purchasing an additional 5,512,333 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider's stock valued at $356,031,000 after acquiring an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider's stock valued at $371,837,000 after acquiring an additional 399,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Fifth Third Bancorp by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,731,656 shares of the financial services provider's stock worth $74,184,000 after acquiring an additional 19,572 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider's stock valued at $62,096,000 after purchasing an additional 56,298 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 transaction, the executive vice president now directly owns 55,913 shares of the company's stock, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the company's 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 transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FITB has been the subject of a number of recent research reports. StockNews.com downgraded shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Bank of America increased their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Morgan Stanley raised their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Finally, Barclays raised their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $42.28.

Fifth Third Bancorp Stock Up 0.1 %

FITB traded up $0.03 during trading on Wednesday, reaching $47.20. 2,468,677 shares of the stock traded hands, compared to its average volume of 4,612,243. The stock has a market cap of $31.65 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21. Fifth Third Bancorp has a fifty-two week low of $25.94 and a fifty-two week high of $48.10. 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 stock's 50-day simple moving average is $43.28 and its two-hundred day simple moving average is $40.19.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly 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). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $0.92 EPS. Fifth Third Bancorp's quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid 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 dividend on an annualized basis and a dividend yield of 3.14%. Fifth Third Bancorp's payout ratio is presently 49.17%.

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.