Harvest Fund Management Co. Ltd Has $280,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Harvest Fund Management Co. Ltd increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 11.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,121 shares of the financial services provider’s stock after purchasing an additional 820 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Fifth Third Bancorp were worth $280,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. GoalVest Advisory LLC raised its holdings in Fifth Third Bancorp by 145.5% in 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 in the last quarter. Denali Advisors LLC acquired a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $36,000. Financial Management Professionals Inc. raised its holdings in Fifth Third Bancorp by 1,000.0% in 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 in the last quarter. Authentikos Wealth Advisory LLC acquired a new position in Fifth Third Bancorp in the 3rd quarter valued at approximately $46,000. Finally, Friedenthal Financial acquired a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FITB. Morgan Stanley restated an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday. UBS Group restated a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Stephens reiterated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $36.31.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $36.89 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41. The firm’s 50 day moving average price is $35.42 and its two-hundred day moving average price is $32.10. The firm has a market cap of $25.13 billion, a P/E ratio of 11.82, a PEG ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The transaction 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 company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the company’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 directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock worth $1,693,888 over the last ninety days. 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.