Fifth Third Bancorp (NASDAQ:FITB) Stake Lowered by US Bancorp DE

US Bancorp DE reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 435,404 shares of the financial services provider's stock after selling 48,188 shares during the period. US Bancorp DE owned 0.06% of Fifth Third Bancorp worth $18,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FITB. Capital World Investors increased its stake in 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 valued at $1,733,847,000 after purchasing an additional 5,512,333 shares during the last quarter. Dimensional Fund Advisors LP increased 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 acquiring an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 worth $371,837,000 after acquiring an additional 399,827 shares during the period. LSV Asset Management boosted its position in shares of Fifth Third Bancorp by 2.3% in the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider's stock worth $165,015,000 after acquiring an additional 99,593 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in 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 during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 1.2 %

FITB stock traded down $0.54 during trading on Friday, reaching $43.14. The stock had a trading volume of 5,777,941 shares, compared to its average volume of 4,618,163. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average price of $42.81 and a 200 day moving average price of $39.70. The company has a market capitalization of $29.20 billion, a P/E ratio of 14.33, a PEG ratio of 2.11 and a beta of 1.22. Fifth Third Bancorp has a 1-year low of $24.02 and a 1-year high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $0.92 EPS. The company's revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. Fifth Third Bancorp's payout ratio is 49.17%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company's stock, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. 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.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of research analyst reports. Argus lifted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a "buy" rating in a report on Monday, July 22nd. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday. Evercore ISI boosted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a research report on Wednesday, October 2nd. Baird R W downgraded Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Finally, Morgan Stanley boosted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $42.28.

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.