Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by City State Bank

City State Bank cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,891 shares of the financial services provider’s stock after selling 1,233 shares during the period. City State Bank’s holdings in Fifth Third Bancorp were worth $1,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC increased its position in shares of Fifth Third Bancorp by 1.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its stake in Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after buying an additional 248 shares in the last quarter. Diversified Trust Co grew its position in shares of Fifth Third Bancorp by 2.6% in the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after buying an additional 259 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in Fifth Third Bancorp by 1.2% during the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler raised their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Evercore ISI increased their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.92.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded up $0.24 during midday trading on Monday, reaching $41.36. 740,558 shares of the company traded hands, compared to its average volume of 4,182,861. The firm has a market cap of $27.73 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. 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’s 50 day simple moving average is $45.19 and its two-hundred day simple moving average is $42.66. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07.

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

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.58%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were 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 approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

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.