Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 377,716 shares of the financial services provider’s stock after selling 3,065 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Fifth Third Bancorp worth $14,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in Fifth Third Bancorp during the first quarter worth about $29,000. GoalVest Advisory LLC increased its position in Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $36,000. Financial Management Professionals Inc. raised its stake in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Fifth Third Bancorp in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $37.50 to $39.50 in a report on Wednesday, May 1st. Stephens reiterated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Finally, Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.15.

Fifth Third Bancorp Stock Up 1.4 %

Shares of NASDAQ FITB traded up $0.51 during trading on Wednesday, reaching $36.72. 1,781,922 shares of the stock were exchanged, compared to its average volume of 4,834,875. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $36.86 and its 200 day moving average price is $35.68. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 2.49 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.

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, topping 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 company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.29 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

Fifth Third Bancorp 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.