Coldstream Capital Management Inc. Grows Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Coldstream Capital Management Inc. grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,466 shares of the financial services provider’s stock after purchasing an additional 875 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $967,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brophy Wealth Management LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at about $302,000. M&T Bank Corp increased its holdings in shares of Fifth Third Bancorp by 1.5% during the third quarter. M&T Bank Corp now owns 43,173 shares of the financial services provider’s stock valued at $1,850,000 after acquiring an additional 654 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Fifth Third Bancorp by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 331,924 shares of the financial services provider’s stock valued at $14,220,000 after acquiring an additional 3,257 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Fifth Third Bancorp by 6.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 204,838 shares of the financial services provider’s stock worth $8,775,000 after buying an additional 11,978 shares during the period. Finally, MML Investors Services LLC increased its holdings in Fifth Third Bancorp by 2.1% in the 3rd quarter. MML Investors Services LLC now owns 163,226 shares of the financial services provider’s stock worth $6,993,000 after buying an additional 3,331 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FITB. Keefe, Bruyette & Woods increased their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley increased 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 report on Monday, September 30th. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Barclays increased their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI increased 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 report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.81.

Fifth Third Bancorp Trading Down 0.6 %

Shares of NASDAQ:FITB opened at $45.53 on Friday. The business’s 50 day moving average price is $45.39 and its 200-day moving average price is $41.55. 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 $30.53 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth 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 announced 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). The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.25%. 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.