Trilogy Capital Inc. Sells 86,440 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Trilogy Capital Inc. lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 93.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,588 shares of the financial services provider's stock after selling 86,440 shares during the quarter. Trilogy Capital Inc.'s holdings in Fifth Third Bancorp were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FITB. Capital World Investors lifted its stake in Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider's stock valued at $1,416,985,000 after buying an additional 10,472,392 shares during the last quarter. Norges Bank acquired a new position in Fifth Third Bancorp during the fourth quarter worth about $257,189,000. Smead Capital Management Inc. purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $67,354,000. Boston Partners increased its stake in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider's stock worth $502,719,000 after purchasing an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV increased its stake in Fifth Third Bancorp by 341.8% in the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider's stock worth $66,521,000 after purchasing an additional 1,492,124 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of FITB traded up $0.98 on Friday, reaching $36.49. 8,438,665 shares of the stock traded hands, compared to its average volume of 4,171,095. The stock's 50-day moving average price is $36.92 and its 200-day moving average price is $35.59. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $39.14. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 2.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post 3.28 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp's dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company's stock, valued at $5,134,575. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company's stock, valued at $5,134,575. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the company's stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FITB shares. UBS Group reissued a "neutral" rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Evercore ISI reduced their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an "in-line" rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Stephens restated an "equal weight" rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Finally, Robert W. Baird restated a "neutral" rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.26.

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.