Fifth Third Bancorp (NASDAQ:FITB) hit a new 52-week high on Thursday . The company traded as high as $29.28 and last traded at $0.00, with a volume of shares.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Nomura boosted their price objective on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Bank of America Corporation boosted their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Royal Bank Of Canada boosted their price objective on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $28.33.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.65 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.21%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 23.97%.

In other news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frank R. Forrest sold 7,004 shares of Fifth Third Bancorp stock in a transaction on Friday, August 18th. The stock was sold at an average price of $26.21, for a total value of $183,574.84. Following the sale, the executive vice president now owns 71,793 shares of the company’s stock, valued at $1,881,694.53. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in FITB. Janus Henderson Group PLC lifted its position in shares of Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after purchasing an additional 7,511,357 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of Fifth Third Bancorp by 265.3% during the second quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock valued at $99,198,000 after buying an additional 2,775,259 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Fifth Third Bancorp by 97.5% during the second quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock valued at $87,813,000 after buying an additional 1,670,055 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Fifth Third Bancorp by 1,130.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,459,713 shares of the financial services provider’s stock valued at $37,894,000 after buying an additional 1,341,100 shares during the period. Finally, Pioneer Investment Management Inc. increased its stake in shares of Fifth Third Bancorp by 310.1% during the second quarter. Pioneer Investment Management Inc. now owns 867,603 shares of the financial services provider’s stock valued at $22,523,000 after buying an additional 656,063 shares during the period. Institutional investors and hedge funds own 79.44% of the company’s stock.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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