Sequoia Financial Advisors LLC Has $532,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Sequoia Financial Advisors LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 15,416 shares of the financial services provider’s stock after selling 1,393 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $532,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Penserra Capital Management LLC raised its position in shares of Fifth Third Bancorp by 8.7% during the fourth quarter. Penserra Capital Management LLC now owns 3,568 shares of the financial services provider’s stock valued at $116,000 after buying an additional 285 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Fifth Third Bancorp by 1.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 18,752 shares of the financial services provider’s stock valued at $599,000 after buying an additional 321 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after buying an additional 355 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Fifth Third Bancorp by 1.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,098 shares of the financial services provider’s stock valued at $823,000 after buying an additional 370 shares during the last quarter. Finally, Toroso Investments LLC raised its position in Fifth Third Bancorp by 5.0% in the fourth quarter. Toroso Investments LLC now owns 7,844 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB opened at $34.09 on Wednesday. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $35.13 and its 200-day simple moving average is $31.66. The stock has a market capitalization of $23.22 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business posted $1.04 earnings per share. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.19 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 4.11%. Fifth Third Bancorp’s dividend payout ratio is currently 43.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Barclays upped their price objective on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group reaffirmed a “neutral” rating and set a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Finally, Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.63.

Insider Activity at Fifth Third Bancorp

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

Fifth Third Bancorp Company Profile

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.