Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,780 shares of the financial services provider’s stock after selling 582 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Fifth Third Bancorp were worth $419,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of FITB. Jupiter Asset Management Ltd. purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at about $33,337,000. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after acquiring an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Fifth Third Bancorp in the third quarter worth approximately $28,490,000. Millennium Management LLC increased its position in shares of Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after purchasing an additional 583,781 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Fifth Third Bancorp by 76.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after purchasing an additional 575,449 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.0 %

NASDAQ:FITB opened at $45.55 on Friday. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The stock’s fifty day moving average is $45.54 and its two-hundred day moving average is $41.63. The stock has a market capitalization of $30.54 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

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

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction 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 represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Evercore ISI raised their target price on shares of 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. Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley upped their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average price target of $44.81.

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.