Raymond James Financial Services Advisors Inc. Sells 6,128 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,201 shares of the financial services provider’s stock after selling 6,128 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Fifth Third Bancorp were worth $8,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Fifth Third Bancorp by 6.2% during the first quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock worth $1,565,617,000 after buying an additional 3,448,642 shares during the period. State Street Corp boosted its stake in Fifth Third Bancorp by 2.3% during the second quarter. State Street Corp now owns 31,753,969 shares of the financial services provider’s stock worth $842,650,000 after buying an additional 709,615 shares during the period. Invesco Ltd. boosted its stake in Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after buying an additional 1,500,653 shares during the period. Geode Capital Management LLC boosted its stake in Fifth Third Bancorp by 2.0% during the first quarter. Geode Capital Management LLC now owns 14,874,154 shares of the financial services provider’s stock worth $395,400,000 after buying an additional 296,945 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Fifth Third Bancorp by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after purchasing an additional 393,937 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 1.4 %

Shares of NASDAQ:FITB opened at $36.70 on Tuesday. The business has a 50-day moving average price of $34.89 and a 200 day moving average price of $30.89. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.42 and a beta of 1.27. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period last year, the company earned $1.04 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 43.34%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday. The Goldman Sachs Group increased their price objective on Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Morgan Stanley increased their price objective on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Barclays increased their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Evercore ISI raised their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.50.

Read Our Latest Research Report on FITB

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 5,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jude Schramm sold 5,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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