Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,731,656 shares of the financial services provider's stock after acquiring an additional 19,572 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Fifth Third Bancorp worth $74,184,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FITB. Quent Capital LLC boosted its holdings in Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider's stock worth $118,000 after acquiring an additional 248 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider's stock worth $433,000 after buying an additional 259 shares during the period. Bailard Inc. increased its position in shares of Fifth Third Bancorp by 0.5% in the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider's stock valued at $1,885,000 after acquiring an additional 264 shares during the period. Lockerman Financial Group Inc. raised its stake in Fifth Third Bancorp by 3.9% in the 3rd quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider's stock worth $299,000 after acquiring an additional 264 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Fifth Third Bancorp by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider's stock worth $513,000 after acquiring an additional 278 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.6 %

Shares of NASDAQ FITB traded down $0.27 during midday trading on Friday, hitting $46.99. The company's stock had a trading volume of 3,522,652 shares, compared to its average volume of 4,600,032. Fifth Third Bancorp has a 1 year low of $26.89 and a 1 year high of $48.10. The business's fifty day simple moving average is $43.49 and its two-hundred day simple moving average is $40.29. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FITB shares. Argus upped their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Evercore ISI raised 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. Finally, Royal Bank of Canada raised their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.09.

Insider Transactions at Fifth Third Bancorp

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 value of $327,525.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the business'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 transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This trade represents a 14.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

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.