Rockefeller Capital Management L.P. Increases Position in Fifth Third Bancorp (NASDAQ:FITB)

Rockefeller Capital Management L.P. increased its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,059,641 shares of the financial services provider's stock after buying an additional 37,507 shares during the period. Rockefeller Capital Management L.P. owned 0.16% of Fifth Third Bancorp worth $45,372,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FITB. Swedbank AB acquired a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $9,548,000. Cetera Investment Advisers lifted its position in Fifth Third Bancorp by 155.2% in the 1st quarter. Cetera Investment Advisers now owns 170,005 shares of the financial services provider's stock valued at $6,326,000 after acquiring an additional 103,392 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Fifth Third Bancorp by 85.1% during the 1st quarter. Cetera Advisors LLC now owns 50,353 shares of the financial services provider's stock worth $1,874,000 after buying an additional 23,146 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new position in shares of Fifth Third Bancorp during the 1st quarter worth approximately $347,000. Finally, GAMMA Investing LLC lifted its position in shares of Fifth Third Bancorp by 179.4% during the 2nd quarter. GAMMA Investing LLC now owns 20,843 shares of the financial services provider's stock worth $761,000 after buying an additional 13,382 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction dated 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 approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.10 during mid-day trading on Friday, reaching $48.06. 2,029,811 shares of the company were exchanged, compared to its average volume of 4,570,171. Fifth Third Bancorp has a 52 week low of $28.29 and a 52 week high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $32.23 billion, a PE ratio of 15.97, a PEG ratio of 2.30 and a beta of 1.21. The company's 50 day moving average price is $44.70 and its 200 day moving average price is $41.03.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results 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 return on equity of 14.58% and a net margin of 16.58%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. Sell-side analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.08%. This is an increase 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 49.17%.

Analyst Ratings Changes

Several research firms have commented on FITB. Citigroup lifted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Evercore ISI raised their price target 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. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $43.62.

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.