CapWealth Advisors LLC Sells 3,000 Shares of Fifth Third Bancorp (NASDAQ:FITB)

CapWealth Advisors LLC reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 26.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,459 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. CapWealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC boosted its position in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $36,000. Clear Street Markets LLC boosted its position in shares of Fifth Third Bancorp by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 647 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $38,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Up 0.5 %

Shares of FITB traded up $0.18 during midday trading on Thursday, reaching $34.28. 1,791,145 shares of the stock were exchanged, compared to its average volume of 5,340,154. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $35.14 and its two-hundred day moving average is $31.68. The company has a market capitalization of $23.35 billion, a P/E ratio of 10.56, a PEG ratio of 1.29 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $1.04 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 43.34%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FITB. Morgan Stanley increased their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Barclays increased their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Robert W. Baird restated a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.63.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.