City State Bank Sells 1,249 Shares of Fifth Third Bancorp (NASDAQ:FITB)

City State Bank decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,124 shares of the financial services provider’s stock after selling 1,249 shares during the period. City State Bank’s holdings in Fifth Third Bancorp were worth $1,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FITB. Voisard Asset Management Group Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $102,000. Syon Capital LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $383,000. EP Wealth Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $259,000. Richardson Financial Services Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $253,000. Finally, SageView Advisory Group LLC grew its holdings in shares of Fifth Third Bancorp by 3.8% in the fourth quarter. SageView Advisory Group LLC now owns 27,507 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 1,018 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FITB. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America boosted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group boosted their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.78.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock valued at $2,269,920 over the last ninety days. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $43.84 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $29.67 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $43.94. The business’s 50-day moving average is $41.61 and its 200 day moving average is $38.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 47.13%.

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.