Huntington National Bank Sells 1,230 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Huntington National Bank decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,146 shares of the financial services provider’s stock after selling 1,230 shares during the period. Huntington National Bank’s holdings in Fifth Third Bancorp were worth $2,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of FITB. APG Asset Management N.V. boosted its stake in shares of Fifth Third Bancorp by 512.5% during the first quarter. APG Asset Management N.V. now owns 4,274,599 shares of the financial services provider’s stock valued at $96,010,000 after purchasing an additional 3,576,758 shares during the period. AJO LP boosted its stake in shares of Fifth Third Bancorp by 935.7% during the first quarter. AJO LP now owns 1,868,249 shares of the financial services provider’s stock valued at $27,742,000 after purchasing an additional 1,687,872 shares during the period. Royal Bank of Canada boosted its stake in shares of Fifth Third Bancorp by 140.3% during the first quarter. Royal Bank of Canada now owns 1,939,014 shares of the financial services provider’s stock valued at $28,795,000 after purchasing an additional 1,132,019 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Fifth Third Bancorp by 67.9% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,418,338 shares of the financial services provider’s stock valued at $35,913,000 after purchasing an additional 978,129 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Fifth Third Bancorp by 8.6% during the first quarter. Wells Fargo & Company MN now owns 10,417,828 shares of the financial services provider’s stock valued at $154,705,000 after purchasing an additional 828,846 shares during the period. Institutional investors and hedge funds own 78.20% of the company’s stock.

FITB stock opened at $19.86 on Friday. The firm has a market cap of $14.14 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.72 and a beta of 1.72. The firm has a 50-day simple moving average of $19.53 and a two-hundred day simple moving average of $21.02. Fifth Third Bancorp has a one year low of $11.10 and a one year high of $31.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.90 and a current ratio of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.10. Fifth Third Bancorp had a net margin of 16.55% and a return on equity of 7.37%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Fifth Third Bancorp will post 1.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, June 29th. This represents a $1.08 annualized dividend and a dividend yield of 5.44%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 38.99%.

A number of research firms recently weighed in on FITB. Cfra upped their price objective on shares of Fifth Third Bancorp to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. BidaskClub lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 1st. Wolfe Research began coverage on shares of Fifth Third Bancorp in a research note on Friday. They issued an “outperform” rating for the company. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $19.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Wells Fargo & Co upped their price objective on shares of Fifth Third Bancorp from $16.00 to $20.00 in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $24.50.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

Further Reading: How to find the components of the quick ratio

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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