Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Vestor Capital LLC

Vestor Capital LLC boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 70.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,944 shares of the financial services provider’s stock after buying an additional 2,450 shares during the quarter. Vestor Capital LLC’s holdings in Fifth Third Bancorp were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Park National Corp OH boosted its position in shares of Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 5,411 shares during the period. M&G Plc purchased a new stake in Fifth Third Bancorp in the second quarter valued at approximately $1,254,000. Plato Investment Management Ltd acquired a new position in Fifth Third Bancorp during the first quarter worth $639,000. Russell Investments Group Ltd. boosted its position in shares of Fifth Third Bancorp by 9.1% during the first quarter. Russell Investments Group Ltd. now owns 313,324 shares of the financial services provider’s stock worth $11,657,000 after buying an additional 26,194 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Fifth Third Bancorp by 2.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 827,625 shares of the financial services provider’s stock valued at $30,796,000 after buying an additional 18,208 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $43.14 on Monday. The firm has a market capitalization of $29.20 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.09 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 52 week low of $24.02 and a 52 week high of $45.71. The firm’s 50 day moving average is $42.81 and its two-hundred day moving average is $39.74.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.92 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts forecast that Fifth Third Bancorp will post 3.33 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.37 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays increased their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.28.

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.