Raymond James Trust N.A. Sells 810 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Raymond James Trust N.A. reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,162 shares of the financial services provider’s stock after selling 810 shares during the quarter. Raymond James Trust N.A.’s holdings in Fifth Third Bancorp were worth $1,721,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FITB. Charles Schwab Investment Management Inc. increased its stake in Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after acquiring an additional 732,651 shares during the last quarter. Trustmark National Bank Trust Department increased its stake in shares of Fifth Third Bancorp by 26.6% in the 3rd quarter. Trustmark National Bank Trust Department now owns 23,399 shares of the financial services provider’s stock valued at $1,002,000 after purchasing an additional 4,916 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Fifth Third Bancorp by 22.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,951 shares of the financial services provider’s stock worth $212,000 after buying an additional 909 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Fifth Third Bancorp by 2.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,137 shares of the financial services provider’s stock worth $2,234,000 after buying an additional 1,216 shares during the last quarter. Finally, Premier Fund Managers Ltd acquired a new stake in Fifth Third Bancorp in the third quarter valued at about $6,901,000. 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 transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 14.88 % 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. Also, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on FITB shares. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Barclays increased their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley boosted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $43.62.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $47.90 on Friday. The stock has a market capitalization of $32.12 billion, a PE ratio of 15.91, a PEG ratio of 2.26 and a beta of 1.21. The business’s 50 day simple moving average is $44.17 and its 200 day simple moving average is $40.71. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a one year low of $26.89 and a one year high of $48.10.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data 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). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, research analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s payout ratio is currently 49.17%.

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.