Sei Investments Co. decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 784,963 shares of the financial services provider’s stock after selling 32,565 shares during the quarter. Sei Investments Co. owned about 0.11% of Fifth Third Bancorp worth $21,963,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC lifted its holdings in Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 5,505 shares during the period. Duncker Streett & Co. Inc. raised its position in Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 17 shares in the last quarter. Cornerstone Advisors Inc. raised its position in Fifth Third Bancorp by 14.2% in the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 847 shares in the last quarter. Regentatlantic Capital LLC bought a new stake in Fifth Third Bancorp in the third quarter worth about $205,000. Finally, Chicago Equity Partners LLC bought a new stake in Fifth Third Bancorp in the third quarter worth about $231,000. 81.45% of the stock is owned by institutional investors.
Shares of Fifth Third Bancorp (FITB) opened at $28.19 on Tuesday. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $29.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $19,523.43, a P/E ratio of 15.37, a PEG ratio of 2.29 and a beta of 1.34.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the business earned $0.65 earnings per share. sell-side analysts anticipate that Fifth Third Bancorp will post 1.8 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.27%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio is currently 23.97%.
In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frank R. Forrest sold 7,004 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the completion of the transaction, the executive vice president now owns 71,793 shares of the company’s stock, valued at $1,881,694.53. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.
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Several equities research analysts have commented on FITB shares. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $28.00 price target (up from $27.00) on shares of Fifth Third Bancorp in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Thursday, July 27th. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Wells Fargo & Company began coverage on Fifth Third Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $27.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and two have given a buy rating to the company’s stock. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $28.33.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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