Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 17.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,257 shares of the financial services provider’s stock after purchasing an additional 10,991 shares during the quarter. Quantinno Capital Management LP’s holdings in Fifth Third Bancorp were worth $3,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its stake in Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. raised its holdings in shares of Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 232 shares during the period. Quent Capital LLC grew its holdings in shares of Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the period. Diversified Trust Co increased its position in Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 259 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in Fifth Third Bancorp by 1.2% during the third quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 260 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FITB shares. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Barclays raised 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. Piper Sandler upped their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $44.81.

Fifth Third Bancorp Price Performance

FITB stock opened at $46.53 on Tuesday. The business’s 50-day moving average is $45.23 and its two-hundred day moving average is $41.45. 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 firm has a market capitalization of $31.20 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.26 and a beta of 1.22. Fifth Third Bancorp has a 1 year low of $30.47 and a 1 year high of $49.07.

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 the consensus estimate 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share 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. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’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 completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.