2 weeks Ago By ABMN Staff
Susquehanna Portfolio Strategies LLC lessened its holdings in shares of Fifth Third Bancorp ( NASDAQ:FITB – Free Report ) by 37.6% during the 2nd quarter, HoldingsChannel.com reports.
The institutional investor owned 459,860 shares of the financial services provider’s stock after selling 277,224 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Fifth Third Bancorp were worth $16,780,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB.
Morningstar Investment Management LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $2,257,000. Bank of Nova Scotia lifted its stake in Fifth Third Bancorp by 31.6% in the fourth quarter.
Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock valued at $3,056,000 after buying an additional 21,251 shares in the last quarter. Park National Corp OH boosted its holdings in shares of Fifth Third Bancorp by 15.0% in the second quarter.
Park National Corp OH now owns 41,503 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 5,411 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Fifth Third Bancorp by 8.
0% during the fourth quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock worth $10,043,000 after acquiring an additional 21,612 shares in the last quarter.
Finally, Waterloo Capital L.P. acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $2,080,000.
83.79% of the stock is currently owned by institutional investors. Fifth Third Bancorp Stock Up 0.
1 % FITB stock opened at $42.94 on Friday. Fifth Third Bancorp has a 1-year low of $22.
49 and a 1-year high of $43.85. The stock has a market cap of $29.
06 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 2.03 and a beta of 1.
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’s 50 day moving average is $41.
37 and its 200 day moving average is $38.32. Fifth Third Bancorp Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th.
Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.
35. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.
48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio is 44.
44%. Analyst Ratings Changes A number of brokerages recently weighed in on FITB. Argus upped their target price on shares of Fifth Third Bancorp from $42.
00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their price objective on Fifth Third Bancorp from $42.
00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $40.
00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Jefferies Financial Group raised their target price on Fifth Third Bancorp from $42.
00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods reissued 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $41.
16. Get Our Latest Stock Report on FITB Insider Activity at Fifth Third Bancorp In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.
00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724.
The transaction was disclosed in a filing with the SEC, which is available through this hyperlink . In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.
00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website . Also, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s 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 disclosure for this sale can be found here . In the last 90 days, insiders have sold 54,500 shares of company stock valued at $2,269,920.
Insiders own 0.50% of the company’s stock. Fifth Third Bancorp Profile ( Free Report ) 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. Featured Stories Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp ( NASDAQ:FITB – Free Report ).
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