Raymond James & Associates Sells 57,293 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Raymond James & Associates trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 604,688 shares of the financial services provider's stock after selling 57,293 shares during the period. Raymond James & Associates owned 0.09% of Fifth Third Bancorp worth $25,905,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of Fifth Third Bancorp by 13.4% in the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider's stock worth $1,733,847,000 after purchasing an additional 5,512,333 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 buying an additional 281,494 shares during the period. LSV Asset Management grew its holdings in shares of Fifth Third Bancorp by 2.3% during the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider's stock valued at $165,015,000 after acquiring an additional 99,593 shares in the last quarter. Envestnet Asset Management Inc. increased its stake 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 worth $62,096,000 after acquiring an additional 56,298 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Fifth Third Bancorp by 37.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,629,456 shares of the financial services provider's stock worth $60,632,000 after acquiring an additional 442,121 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

FITB traded down $0.84 during midday trading on Friday, reaching $43.22. The company's stock had a trading volume of 6,404,444 shares, compared to its average volume of 4,618,509. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $42.49 and a 200 day simple moving average of $39.30. The stock has a market cap of $29.56 billion, a P/E ratio of 13.72, a PEG ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a twelve month low of $22.75 and a twelve month high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. Research analysts expect that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.42%. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 114,422 shares of the company's stock, valued at $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI boosted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, July 3rd. Argus lifted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Bank of America increased their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.28.

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.