Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 19.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,362 shares of the financial services provider’s stock after selling 2,552 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Fifth Third Bancorp were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in Fifth Third Bancorp in the 1st quarter valued at about $29,000. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter valued at approximately $34,000. Centerpoint Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares during the last quarter. Family Firm Inc. purchased a new position in Fifth Third Bancorp during the second quarter worth approximately $52,000. Finally, Mather Group LLC. acquired a new position in Fifth Third Bancorp during the first quarter worth $56,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

FITB stock opened at $42.51 on Wednesday. The business’s fifty day moving average price is $40.85 and its 200 day moving average price is $38.02. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $43.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $29.08 billion, a PE ratio of 13.50, a P/E/G ratio of 1.93 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company earned $0.87 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.48%. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

Analyst Ratings Changes

FITB has been the subject of a number of recent research reports. Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Morgan Stanley increased their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group lifted their price target 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. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $40.56.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock valued at $2,269,920 in the last 90 days. Company insiders own 0.50% of the company’s stock.

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.