FDx Advisors Inc. lowered its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 63.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,683 shares of the financial services provider’s stock after selling 13,297 shares during the quarter. FDx Advisors Inc.’s holdings in Fifth Third Bancorp were worth $233,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FITB. Horan Capital Advisors LLC. purchased a new stake in Fifth Third Bancorp during the third quarter worth $102,000. Valeo Financial Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $119,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $148,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $162,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Fifth Third Bancorp by 268.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 4,706 shares during the period. Hedge funds and other institutional investors own 83.82% of the company’s stock.
In other news, SVP Mark D. Hazel sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, February 5th. The stock was sold at an average price of $32.81, for a total transaction of $246,075.00. Following the completion of the transaction, the senior vice president now owns 62,254 shares of the company’s stock, valued at approximately $2,042,553.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Frank R. Forrest sold 4,836 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $31.90, for a total transaction of $154,268.40. Following the completion of the transaction, the executive vice president now directly owns 112,474 shares of the company’s stock, valued at approximately $3,587,920.60. The disclosure for this sale can be found here. Insiders have sold a total of 179,410 shares of company stock worth $5,879,506 over the last 90 days. Insiders own 0.40% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) traded down $0.44 during trading hours on Wednesday, reaching $33.62. 4,292,235 shares of the company were exchanged, compared to its average volume of 5,183,768. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $34.57. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99. The stock has a market cap of $23,536.00, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.89 and a beta of 1.31.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.58 billion. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. During the same period last year, the firm posted $0.49 EPS. equities research analysts anticipate that Fifth Third Bancorp will post 2.3 earnings per share for the current year.
Fifth Third Bancorp declared that its board has approved a share buyback plan on Tuesday, February 27th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.90%. Fifth Third Bancorp’s payout ratio is currently 22.46%.
A number of brokerages recently issued reports on FITB. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. BidaskClub raised shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Vining Sparks reissued a “buy” rating and issued a $35.00 price objective on shares of Fifth Third Bancorp in a research note on Sunday, January 28th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $30.70.
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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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