The Manufacturers Life Insurance Company Sells 107,241 Shares of Fifth Third Bancorp (NASDAQ:FITB)

The Manufacturers Life Insurance Company decreased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,778,375 shares of the financial services provider's stock after selling 107,241 shares during the period. The Manufacturers Life Insurance Company owned about 0.27% of Fifth Third Bancorp worth $76,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC lifted its stake in Fifth Third Bancorp by 1.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider's stock valued at $878,000 after purchasing an additional 222 shares during the last quarter. Quent Capital LLC increased its position in Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 248 shares during the period. Diversified Trust Co increased its position in Fifth Third Bancorp by 2.6% in the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider's stock valued at $433,000 after acquiring an additional 259 shares during the period. Metis Global Partners LLC increased its position in Fifth Third Bancorp by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider's stock valued at $932,000 after acquiring an additional 260 shares during the period. Finally, Bailard Inc. increased its position in 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. Institutional investors own 83.79% of the company's stock.

Insider Buying and Selling 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 value of $327,525.00. Following 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 trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on FITB. StockNews.com cut shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Barclays upped their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Evercore ISI upped their price target on shares of 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. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Hold" and an average price target of $43.62.

Fifth Third Bancorp Stock Down 0.2 %

NASDAQ FITB traded down $0.09 on Thursday, hitting $48.16. 2,931,867 shares of the company were exchanged, compared to its average volume of 4,581,216. The company has a market cap of $32.29 billion, a PE ratio of 16.00, a PEG ratio of 2.32 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $26.89 and a 12 month high of $49.07. The stock has a fifty day moving average of $44.61 and a 200-day moving average of $40.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its 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 return on equity of 14.58% and a net margin of 16.58%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 3.07%. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is 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.