Crossmark Global Holdings Inc. Sells 1,203 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Crossmark Global Holdings Inc. lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 63,107 shares of the financial services provider’s stock after selling 1,203 shares during the period. Crossmark Global Holdings Inc.’s holdings in Fifth Third Bancorp were worth $2,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital World Investors grew its holdings in shares of Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after purchasing an additional 10,472,392 shares during the last quarter. Norges Bank bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $257,189,000. Boston Partners grew its holdings in shares of Fifth Third Bancorp by 11.5% during the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after purchasing an additional 1,499,194 shares during the last quarter. KBC Group NV grew its holdings in shares of Fifth Third Bancorp by 341.8% during the fourth quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after purchasing an additional 1,492,124 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $46,472,000. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. The disclosure for this sale can be found here. In the last three months, insiders sold 54,500 shares of company stock valued at $2,269,920. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FITB shares. Evercore ISI reduced their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Friday, May 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lifted their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.56.

Fifth Third Bancorp Stock Up 1.2 %

Shares of FITB traded up $0.50 during trading hours on Friday, reaching $42.69. The stock had a trading volume of 3,351,700 shares, compared to its average volume of 4,721,376. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $42.91. The firm has a 50-day simple moving average of $39.41 and a 200 day simple moving average of $37.22. 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 $29.20 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

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.