Fiduciary Trust Co Purchases 7,201 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Fiduciary Trust Co raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 36.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,755 shares of the financial services provider’s stock after buying an additional 7,201 shares during the quarter. Fiduciary Trust Co’s holdings in Fifth Third Bancorp were worth $1,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FITB. Venturi Wealth Management LLC boosted its stake 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 valued at $29,000 after acquiring an additional 316 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Fifth Third Bancorp by 56.9% in the 3rd 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 in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the 3rd quarter worth $39,000. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at about $53,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $48.06 on Friday. The company has a 50 day moving average price of $44.70 and a 200-day moving average price of $41.03. Fifth Third Bancorp has a 1-year low of $28.29 and a 1-year high of $49.07. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. 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 (NASDAQ:FITB) last issued its quarterly earnings data 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). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company posted $0.92 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS 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 given a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.08%. Fifth Third Bancorp’s payout ratio is 49.17%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FITB shares. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. 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. Barclays boosted their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI raised their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.62.

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.