UMB Bank n.a. Reduces Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

UMB Bank n.a. cut its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,532 shares of the financial services provider’s stock after selling 3,027 shares during the period. UMB Bank n.a.’s holdings in Fifth Third Bancorp were worth $4,157,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GoalVest Advisory LLC boosted its position in Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $36,000. Clear Street Markets LLC grew its holdings in Fifth Third Bancorp by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 647 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $38,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FITB shares. Evercore ISI raised their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group lifted their price target on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 18th. Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.50.

Get Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Trading Down 2.0 %

Fifth Third Bancorp stock opened at $35.98 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $34.93 and a two-hundred day moving average price of $30.95. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.40 and a beta of 1.27. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period in the previous year, the business posted $1.04 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 3.17 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.89%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 43.34%.

About Fifth Third Bancorp

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

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

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.