CapWealth Advisors LLC Has $296,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

CapWealth Advisors LLC reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,959 shares of the financial services provider’s stock after selling 500 shares during the period. CapWealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FITB. Daiwa Securities Group Inc. raised its position in shares of Fifth Third Bancorp by 6.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after acquiring an additional 3,476 shares during the period. Nordea Investment Management AB raised its holdings in Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after purchasing an additional 269,152 shares during the period. Morningstar Investment Management LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $2,257,000. Bank of Nova Scotia grew its holdings in shares of Fifth Third Bancorp by 31.6% in the 4th quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock valued at $3,056,000 after buying an additional 21,251 shares during the period. Finally, rhino investment partners Inc increased its position in shares of Fifth Third Bancorp by 20.1% in the 4th quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock valued at $44,891,000 after buying an additional 217,956 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Down 0.1 %

NASDAQ FITB traded down $0.02 during trading hours on Tuesday, hitting $36.21. 8,486,740 shares of the company traded hands, compared to its average volume of 4,858,296. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 2.48 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $39.14. The business’s 50-day moving average is $36.86 and its 200-day moving average is $35.68. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the business earned $0.78 earnings per share. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.29 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.87%. Fifth Third Bancorp’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FITB shares. Jefferies Financial Group lifted their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.15.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Company Profile

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.