Fifth Third Bancorp $FITB Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,301,879 shares of the financial services provider’s stock after selling 17,479 shares during the period. Rhumbline Advisers owned approximately 0.20% of Fifth Third Bancorp worth $57,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealthquest Corp raised its holdings in Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after buying an additional 244 shares during the period. Tiemann Investment Advisors LLC increased its position in shares of Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 250 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in shares of Fifth Third Bancorp by 1.1% during the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 251 shares during the period. CENTRAL TRUST Co lifted its position in shares of Fifth Third Bancorp by 4.1% in the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 260 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in Fifth Third Bancorp by 11.9% in the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value 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 approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FITB shares. Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $52.00 to $57.00 in a research note on Thursday, February 5th. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Jefferies Financial Group increased their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Keefe, Bruyette & Woods raised their price objective on 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. Finally, Truist Financial upped their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 26th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.58.

Fifth Third Bancorp Stock Down 0.6%

FITB opened at $52.86 on Friday. The company has a market capitalization of $34.94 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.08 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 has a fifty-two week low of $32.25 and a fifty-two week high of $55.44. The business has a 50-day moving average of $49.66 and a 200-day moving average of $45.59.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

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.