Heartland Bank & Trust Co Sells 1,041 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Heartland Bank & Trust Co decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,096 shares of the financial services provider’s stock after selling 1,041 shares during the period. Heartland Bank & Trust Co’s holdings in Fifth Third Bancorp were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. Consolidated Planning Corp bought a new position in shares of Fifth Third Bancorp in the third quarter worth about $28,000. Johnson Financial Group Inc. bought a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $31,000. Wagner Wealth Management LLC boosted its stake in Fifth Third Bancorp by 82.5% during the fourth quarter. Wagner Wealth Management LLC now owns 794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 359 shares during the last quarter. Evoke Wealth LLC boosted its stake in Fifth Third Bancorp by 146.7% during the fourth quarter. Evoke Wealth LLC now owns 814 shares of the financial services provider’s stock valued at $36,000 after buying an additional 484 shares during the last quarter. Finally, Covestor Ltd bought a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $37,000. 81.00% of the stock is owned by hedge funds and other institutional investors.

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $36.93, for a total transaction of $92,325.00. Following the transaction, the executive vice president now directly owns 45,844 shares in the company, valued at approximately $1,693,018.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Greg D. Carmichael sold 50,000 shares of Fifth Third Bancorp stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $40.05, for a total value of $2,002,500.00. Following the completion of the transaction, the chief executive officer now owns 644,745 shares in the company, valued at $25,822,037.25. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

A number of brokerages recently commented on FITB. Wolfe Research dropped their price target on Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating for the company in a research note on Thursday, May 26th. Bank of America increased their price target on Fifth Third Bancorp from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. Wells Fargo & Company raised Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating and set a $52.00 price target for the company in a research note on Thursday, April 28th. The Goldman Sachs Group lowered their price objective on Fifth Third Bancorp from $55.00 to $47.50 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Finally, Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Friday, June 17th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $48.36.

Shares of NASDAQ FITB opened at $34.46 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.80 and a current ratio of 0.81. The business’s 50 day moving average price is $37.38 and its 200-day moving average price is $42.64. Fifth Third Bancorp has a fifty-two week low of $33.00 and a fifty-two week high of $50.64. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.15 and a beta of 1.30.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Fifth Third Bancorp had a return on equity of 12.99% and a net margin of 31.14%. During the same quarter in the previous year, the company posted $0.93 earnings per share. Sell-side analysts predict that Fifth Third Bancorp will post 3.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.20 annualized dividend and a yield of 3.48%. Fifth Third Bancorp’s payout ratio is currently 34.38%.

About Fifth Third Bancorp (Get Rating)

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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