Trillium Asset Management LLC reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 10.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 487,942 shares of the financial services provider’s stock after selling 56,713 shares during the period. Trillium Asset Management LLC owned approximately 0.07% of Fifth Third Bancorp worth $23,354,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock worth $3,929,647,000 after purchasing an additional 637,207 shares during the last quarter. Capital World Investors grew its position in Fifth Third Bancorp by 5.6% during the 4th quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider’s stock worth $1,523,650,000 after purchasing an additional 1,719,361 shares during the last quarter. Invesco Ltd. grew its position in Fifth Third Bancorp by 2.6% during the 3rd quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock worth $945,556,000 after purchasing an additional 546,914 shares during the last quarter. Geode Capital Management LLC grew its position in Fifth Third Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider’s stock worth $848,672,000 after purchasing an additional 96,656 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Fifth Third Bancorp by 16.7% during the 3rd quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock worth $714,457,000 after purchasing an additional 2,293,939 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Fifth Third Bancorp
In related news, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares in the company, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Read Our Latest Stock Report on Fifth Third Bancorp
Fifth Third Bancorp Stock Up 2.4%
FITB stock opened at $54.71 on Friday. The company has a market cap of $49.59 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.09 and a beta of 0.92. Fifth Third Bancorp has a 52 week low of $37.86 and a 52 week high of $55.44. The company’s 50-day moving average price is $49.83 and its 200 day moving average price is $48.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last released its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. Fifth Third Bancorp’s payout ratio is currently 53.69%.
Fifth Third Bancorp Profile
Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.
On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.
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