Gulf International Bank UK Ltd Cuts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Gulf International Bank UK Ltd lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,830 shares of the financial services provider’s stock after selling 2,577 shares during the period. Gulf International Bank UK Ltd’s holdings in Fifth Third Bancorp were worth $2,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Greenwood Capital Associates LLC bought a new position in Fifth Third Bancorp during the third quarter valued at approximately $981,000. Catalyst Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $53,000. QRG Capital Management Inc. raised its holdings in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Fifth Third Bancorp by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 257,478 shares of the financial services provider’s stock valued at $11,030,000 after acquiring an additional 879 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of Fifth Third Bancorp by 12.6% in the third quarter. National Pension Service now owns 1,156,562 shares of the financial services provider’s stock valued at $49,547,000 after purchasing an additional 129,226 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FITB. Royal Bank of Canada increased their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Barclays lifted their price target on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Argus raised their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.28.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $46.87 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $31.72 billion, a PE ratio of 15.57, a P/E/G ratio of 2.05 and a beta of 1.21. The company has a 50 day moving average price of $42.95 and a 200-day moving average price of $39.89. Fifth Third Bancorp has a fifty-two week low of $24.64 and a fifty-two week high of $46.90.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.16%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

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.