Trillium Asset Management LLC Acquires 116,427 Shares of Fifth Third Bancorp $FITB

Trillium Asset Management LLC grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 26.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 553,632 shares of the financial services provider’s stock after purchasing an additional 116,427 shares during the period. Trillium Asset Management LLC owned approximately 0.08% of Fifth Third Bancorp worth $22,771,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FITB. Harbour Investments Inc. lifted its stake in shares of Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 263 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of Fifth Third Bancorp by 1.5% during the second quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 271 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Fifth Third Bancorp by 6.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,290 shares of the financial services provider’s stock valued at $176,000 after buying an additional 276 shares in the last quarter. Commerce Bank raised its stake in shares of Fifth Third Bancorp by 0.7% during the first quarter. Commerce Bank now owns 40,331 shares of the financial services provider’s stock valued at $1,581,000 after acquiring an additional 282 shares in the last quarter. Finally, BankPlus Trust Department raised its position in Fifth Third Bancorp by 53.0% during the 2nd quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 290 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In related news, Director Evan Bayh bought 3,000 shares of the stock in a transaction dated Monday, October 20th. The shares were acquired at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the acquisition, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. This trade represents a 3.66% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Argus boosted their target price on shares of Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. Robert W. Baird increased their price objective on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Cowen reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Wednesday, October 8th. Finally, Janney Montgomery Scott raised their price objective on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.35.

Fifth Third Bancorp Stock Up 1.5%

Shares of NASDAQ FITB opened at $42.15 on Wednesday. The company’s 50-day simple moving average is $44.01 and its 200-day simple moving average is $41.55. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The firm has a market cap of $27.90 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 3.8%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.76%.

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.