Community Trust & Investment Co. Has $3.03 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Community Trust & Investment Co. lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.5% in the first quarter, Holdings Channel reports. The institutional investor owned 77,211 shares of the financial services provider’s stock after selling 6,296 shares during the period. Community Trust & Investment Co.’s holdings in Fifth Third Bancorp were worth $3,027,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock valued at $912,692,000 after purchasing an additional 812,385 shares during the period. Geode Capital Management LLC boosted its stake in shares of Fifth Third Bancorp by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider’s stock valued at $715,219,000 after buying an additional 285,910 shares during the period. Boston Partners grew its position in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock worth $597,692,000 after buying an additional 823,803 shares in the last quarter. First Trust Advisors LP increased its stake in Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider’s stock worth $402,991,000 after acquiring an additional 1,027,044 shares during the period. Finally, Norges Bank bought a new position in Fifth Third Bancorp during the 4th quarter worth $371,836,000. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group began coverage on Fifth Third Bancorp in a report on Wednesday, May 21st. They set a “buy” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Cowen initiated coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. DA Davidson raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from $42.00 to $47.00 in a report on Monday, June 9th. Finally, Baird R W raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

Fifth Third Bancorp Trading Down 2.6%

NASDAQ FITB opened at $37.98 on Monday. The company has a market cap of $25.35 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average is $37.03 and its 200 day moving average is $40.58.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the firm posted $0.70 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Monday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

About Fifth Third Bancorp

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.