Olstein Capital Management L.P. Has $7.07 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Olstein Capital Management L.P. lessened its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 23.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,000 shares of the financial services provider's stock after selling 51,000 shares during the period. Olstein Capital Management L.P.'s holdings in Fifth Third Bancorp were worth $7,069,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Norden Group LLC bought a new position in Fifth Third Bancorp during the first quarter worth $622,000. Central Pacific Bank Trust Division acquired a new position in Fifth Third Bancorp in the 1st quarter valued at about $88,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Fifth Third Bancorp by 424.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,353 shares of the financial services provider's stock valued at $720,000 after buying an additional 15,662 shares during the last quarter. Duality Advisers LP acquired a new stake in Fifth Third Bancorp during the first quarter worth approximately $318,000. Finally, Empirical Finance LLC boosted its holdings in shares of Fifth Third Bancorp by 3.5% during the first quarter. Empirical Finance LLC now owns 24,766 shares of the financial services provider's stock worth $922,000 after acquiring an additional 836 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FITB. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday. Morgan Stanley upped 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 research note on Monday, September 30th. Evercore ISI lifted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Barclays increased their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Finally, 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 research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.28.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This trade 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.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded down $0.94 during trading hours on Thursday, hitting $45.93. The company's stock had a trading volume of 4,608,487 shares, compared to its average volume of 4,643,390. Fifth Third Bancorp has a twelve month low of $24.64 and a twelve month high of $46.90. 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 has a fifty day simple moving average of $42.95 and a 200-day simple moving average of $39.89. The company has a market capitalization of $31.09 billion, a P/E ratio of 15.30, a PEG ratio of 2.05 and a beta of 1.21.

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 (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 3.33 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 3.22%. This is a boost from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp's dividend 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.