Healthcare of Ontario Pension Plan Trust Fund Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 301,000 shares of the financial services provider’s stock, valued at approximately $12,895,000.

Several other institutional investors have also bought and sold shares of FITB. Venturi Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp in the second quarter worth about $34,000. Hexagon Capital Partners LLC lifted its holdings in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Fifth Third Bancorp in the third quarter worth about $39,000. Finally, Family Firm Inc. acquired a new stake in Fifth Third Bancorp in the second quarter worth about $52,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on 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 owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $48.16 on Friday. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.32 and a beta of 1.21. Fifth Third Bancorp has a fifty-two week low of $26.89 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50-day moving average is $44.61 and its 200-day moving average is $40.97.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.07%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. 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 report on Monday, September 30th. Evercore ISI boosted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $43.62.

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.