Fifth Third Bancorp $FITB Stock: Trillium Asset Management LLC Lowers Holdings

Trillium Asset Management LLC lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 378,832 shares of the financial services provider’s stock after selling 12,041 shares during the period. Trillium Asset Management LLC’s holdings in Fifth Third Bancorp were worth $19,162,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FITB. Optas LLC boosted its position in Fifth Third Bancorp by 16.4% in the third quarter. Optas LLC now owns 6,026 shares of the financial services provider’s stock valued at $305,000 after buying an additional 849 shares in the last quarter. Danske Bank A S increased its holdings in shares of Fifth Third Bancorp by 17.3% during the third quarter. Danske Bank A S now owns 493,885 shares of the financial services provider’s stock worth $24,981,000 after buying an additional 72,811 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Fifth Third Bancorp by 19.9% during the third quarter. Diversified Trust Co now owns 18,591 shares of the financial services provider’s stock worth $940,000 after buying an additional 3,080 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Fifth Third Bancorp by 15.2% during the third quarter. Aberdeen Group plc now owns 692,629 shares of the financial services provider’s stock worth $35,033,000 after buying an additional 91,450 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Fifth Third Bancorp by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 34,380 shares of the financial services provider’s stock valued at $1,739,000 after acquiring an additional 297 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FITB shares. Wolfe Research assumed coverage on Fifth Third Bancorp in a report on Tuesday, October 27th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Stephens lowered their target price on Fifth Third Bancorp from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, October 21st. UBS Group dropped their target price on Fifth Third Bancorp from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, TD Cowen began coverage on Fifth Third Bancorp in a research note on Thursday, October 8th. They set a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average price target of $60.87.

Fifth Third Bancorp Trading Up 1.1%

FITB stock traded up $0.61 during mid-day trading on Friday, reaching $54.51. The company’s stock had a trading volume of 3,893,844 shares, compared to its average volume of 8,169,751. The business’s 50 day moving average price is $52.67 and its 200 day moving average price is $52.23. The company has a market cap of $49.26 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. 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 released its earnings results on Monday, October 19th. The financial services provider reported $1.13 earnings per share (EPS) 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 the consensus estimate of $3.34 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 4.10 EPS for the current year.

Fifth Third Bancorp Increases Dividend

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

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $53.14, for a total value of $1,062,800.00. Following the completion of the sale, the executive vice president directly owned 121,460 shares of the company’s stock, valued at $6,454,384.40. The trade was a 14.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

About Fifth Third Bancorp

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.