Greenleaf Trust Sells 2,947 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Greenleaf Trust lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,584 shares of the financial services provider’s stock after selling 2,947 shares during the quarter. Greenleaf Trust’s holdings in Fifth Third Bancorp were worth $2,124,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FITB. GoalVest Advisory LLC raised its stake 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 in the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $36,000. Financial Management Professionals Inc. boosted its position in Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $38,000. Finally, Covestor Ltd increased its holdings in shares of Fifth Third Bancorp by 43.9% during the first quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock worth $52,000 after buying an additional 372 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 5.9 %

FITB traded up $2.03 during trading on Friday, reaching $36.25. The company had a trading volume of 13,812,465 shares, compared to its average volume of 4,201,311. The business’s fifty day moving average price is $35.21 and its 200 day moving average price is $31.78. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41. The company has a market cap of $24.69 billion, a P/E ratio of 11.22, a PEG ratio of 1.30 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period last year, the firm posted $0.78 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.86%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FITB shares. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Royal Bank of Canada raised their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Barclays boosted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Evercore ISI upped their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $35.63.

Insider Transactions at Fifth Third Bancorp

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

About Fifth Third Bancorp

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.