Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Raymond James & Associates

Raymond James & Associates raised its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 661,981 shares of the financial services provider's stock after purchasing an additional 36,838 shares during the period. Raymond James & Associates owned 0.10% of Fifth Third Bancorp worth $24,156,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $633,000. Gradient Investments LLC raised its position in shares of Fifth Third Bancorp by 187.0% in the second quarter. Gradient Investments LLC now owns 2,755 shares of the financial services provider's stock valued at $101,000 after buying an additional 1,795 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Fifth Third Bancorp by 130.6% during the 2nd quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider's stock valued at $60,000 after acquiring an additional 914 shares during the period. Triad Wealth Partners LLC acquired a new position in Fifth Third Bancorp in the second quarter valued at about $69,000. Finally, Assenagon Asset Management S.A. lifted its position in Fifth Third Bancorp by 3.8% during the second quarter. Assenagon Asset Management S.A. now owns 19,965 shares of the financial services provider's stock worth $729,000 after purchasing an additional 733 shares during the period. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Up 0.8 %

Shares of FITB stock traded up $0.32 during mid-day trading on Thursday, hitting $41.00. The company's stock had a trading volume of 3,305,892 shares, compared to its average volume of 4,782,771. The stock has a market cap of $28.05 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $42.91. The business has a 50-day moving average price of $38.68 and a 200 day moving average price of $36.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm posted $0.87 EPS. Research analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.41%. Fifth Third Bancorp's payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

FITB has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. Morgan Stanley upped their target price on Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Wolfe Research raised Fifth Third Bancorp from a "peer perform" rating to an "outperform" rating and set a $43.00 target price on the stock in a report on Friday, May 31st. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada raised their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.56.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 20,000 shares of the business's stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now directly owns 125,087 shares in the company, valued at $5,224,883.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares of the company's stock, valued at $863,802.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the business's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,500 shares of company stock worth $1,429,920. 0.50% of the stock is owned by corporate insiders.

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.