US Bancorp DE Sells 57,237 Shares of Fifth Third Bancorp $FITB

US Bancorp DE trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 12.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,598 shares of the financial services provider’s stock after selling 57,237 shares during the period. US Bancorp DE owned approximately 0.06% of Fifth Third Bancorp worth $17,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Evolution Wealth Management Inc. bought a new stake in Fifth Third Bancorp during the second quarter valued at $26,000. Westside Investment Management Inc. grew its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares during the last quarter. United Community Bank raised its position in Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 581 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $32,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $48,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FITB. Stephens raised their price target on Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Citigroup increased their price target on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings raised Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.56.

Fifth Third Bancorp Stock Down 4.8%

Shares of Fifth Third Bancorp stock opened at $49.47 on Friday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The firm’s 50-day moving average is $50.59 and its two-hundred day moving average is $46.34. The stock has a market cap of $32.70 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.00 and a beta of 0.99. 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 (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. The firm had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. As a group, 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 45.20%.

Insider Activity

In related news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.

About Fifth Third Bancorp

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.