Eurizon Capital SGR S.p.A. Sells 311,596 Shares of Fifth Third Bancorp $FITB

Eurizon Capital SGR S.p.A. lowered its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,424,987 shares of the financial services provider’s stock after selling 311,596 shares during the period. Eurizon Capital SGR S.p.A. owned approximately 0.49% of Fifth Third Bancorp worth $224,389,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its holdings in Fifth Third Bancorp by 14.0% in the third quarter. Maryland State Retirement & Pension System now owns 55,965 shares of the financial services provider’s stock valued at $2,831,000 after purchasing an additional 6,890 shares during the period. Jefferies Financial Group Inc. grew its stake in Fifth Third Bancorp by 15.7% during the 3rd quarter. Jefferies Financial Group Inc. now owns 46,593 shares of the financial services provider’s stock worth $2,357,000 after purchasing an additional 6,328 shares in the last quarter. First Command Advisory Services Inc. grew its stake in Fifth Third Bancorp by 28.2% during the 3rd quarter. First Command Advisory Services Inc. now owns 3,473 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 765 shares in the last quarter. Keybank National Association OH grew its stake in Fifth Third Bancorp by 11.7% during the 3rd quarter. Keybank National Association OH now owns 94,206 shares of the financial services provider’s stock worth $4,765,000 after purchasing an additional 9,893 shares in the last quarter. Finally, 71 West Capital Partners increased its holdings in Fifth Third Bancorp by 3.7% during the 3rd quarter. 71 West Capital Partners now owns 11,706 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 423 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $53.99 on Friday. The firm has a market capitalization of $48.79 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. The business’s fifty day moving average price is $52.68 and its 200 day moving average price is $52.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. Fifth Third Bancorp has a 12 month low of $40.68 and a 12 month high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.27. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%. Fifth Third Bancorp’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 4.10 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 3.1%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 57.53%.

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. UBS Group reduced their price target on Fifth Third Bancorp from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. DA Davidson boosted their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Jefferies Financial Group cut their target price on shares of Fifth Third Bancorp from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Finally, TD Cowen began coverage on shares of Fifth Third Bancorp in a report on Thursday, October 8th. They issued a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.87.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $53.14, for a total transaction of $1,062,800.00. Following the sale, the executive vice president owned 121,460 shares of the company’s stock, valued at approximately $6,454,384.40. This trade represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Fifth Third Bank, it provides consumer and commercial banking, lending, payment processing, and wealth and asset management services. The company traces its roots to 1858 and took the Fifth Third name following the 1908 merger of Fifth National Bank and Third National Bank. Its banking operations serve individuals, businesses, and communities across parts of the Midwest and Southeast, including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.