Community Trust & Investment Co. Sells 6,296 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Community Trust & Investment Co. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,211 shares of the financial services provider’s stock after selling 6,296 shares during the quarter. Community Trust & Investment Co.’s holdings in Fifth Third Bancorp were worth $3,027,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FITB. Asset Management One Co. Ltd. raised its holdings in shares of Fifth Third Bancorp by 3.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 265,622 shares of the financial services provider’s stock worth $11,395,000 after acquiring an additional 8,144 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Fifth Third Bancorp by 79.4% in the 4th quarter. Vontobel Holding Ltd. now owns 15,305 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 6,774 shares during the period. Banque Pictet & Cie SA bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $507,000. Principal Securities Inc. boosted its position in shares of Fifth Third Bancorp by 9.7% during the fourth quarter. Principal Securities Inc. now owns 30,929 shares of the financial services provider’s stock worth $1,308,000 after buying an additional 2,724 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Fifth Third Bancorp by 6.7% during the fourth quarter. Allworth Financial LP now owns 7,559 shares of the financial services provider’s stock worth $332,000 after buying an additional 477 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 2.6%

Shares of Fifth Third Bancorp stock opened at $37.98 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day simple moving average of $37.03 and a two-hundred day simple moving average of $40.58. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a market capitalization of $25.35 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period in the prior year, the firm earned $0.70 earnings per share. Research analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 3.90%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FITB shares. DA Davidson upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and boosted their target price for the company from $42.00 to $47.00 in a research note on Monday, June 9th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods decreased their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. Citigroup cut their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Jefferies Financial Group began coverage on shares of Fifth Third Bancorp in a research note on Wednesday, May 21st. They set a “buy” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus target price of $47.53.

Fifth Third Bancorp 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.