Fifth Third Bancorp $FITB Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 81.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,103 shares of the financial services provider’s stock after selling 160,907 shares during the period. Impax Asset Management Group plc’s holdings in Fifth Third Bancorp were worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its position in Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 292 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $26,000. United Community Bank boosted its holdings in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares in the last quarter. Activest Wealth Management boosted its holdings in Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after buying an additional 626 shares in the last quarter. Finally, GoalVest Advisory LLC grew its position in Fifth Third Bancorp by 246.3% during the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after buying an additional 532 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $54.35 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The firm has a market capitalization of $35.93 billion, a PE ratio of 15.35, a P/E/G ratio of 1.11 and a beta of 0.99. The business’s 50 day moving average price is $49.35 and its 200-day moving average price is $45.46.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The firm had revenue of $3.82 billion during the quarter. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 45.20%.

Analyst Ratings Changes

A number of research analysts have weighed in on FITB shares. Keefe, Bruyette & Woods upped their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Wall Street Zen cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Evercore ISI raised their price objective on Fifth Third Bancorp from $52.00 to $57.00 in a report on Thursday, February 5th. TD Cowen reaffirmed a “buy” rating and set a $60.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Thursday, January 22nd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.58.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the transaction, the executive vice president directly owned 129,191 shares in the company, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

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.