Stifel Financial Corp Lowers Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Stifel Financial Corp reduced its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 10.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 375,525 shares of the financial services provider's stock after selling 41,802 shares during the quarter. Stifel Financial Corp owned approximately 0.06% of Fifth Third Bancorp worth $16,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FITB. Venturi Wealth Management LLC grew its stake in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after buying an additional 316 shares in the last quarter. American Capital Advisory LLC purchased a new stake in Fifth Third Bancorp during the 2nd quarter worth about $34,000. Hexagon Capital Partners LLC boosted its stake in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after purchasing an additional 312 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at about $39,000. Finally, Family Firm Inc. bought a new stake in shares of Fifth Third Bancorp during the second quarter valued at about $52,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley boosted 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 report on Monday, September 30th. Baird R W cut shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Barclays lifted their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Finally, Evercore ISI raised their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $44.81.

Fifth Third Bancorp Trading Down 0.9 %

Shares of FITB traded down $0.43 during mid-day trading on Wednesday, hitting $45.96. 4,538,671 shares of the company's stock traded hands, compared to its average volume of 4,535,379. 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 firm has a market capitalization of $30.82 billion, a P/E ratio of 15.41, a PEG ratio of 2.26 and a beta of 1.22. The business's 50-day moving average price is $45.23 and its 200-day moving average price is $41.45. Fifth Third Bancorp has a 1 year low of $30.47 and a 1 year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings data 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). The company 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 firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.22%. Fifth Third Bancorp's payout ratio is 49.17%.

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.