Moody National Bank Trust Division lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 5.5% during the 4th quarter, HoldingsChannel reports. The fund owned 18,382 shares of the financial services provider’s stock after selling 1,074 shares during the quarter. Moody National Bank Trust Division’s holdings in Fifth Third Bancorp were worth $777,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Fifth Third Bancorp by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after purchasing an additional 732,651 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Fifth Third Bancorp during the third quarter worth about $28,490,000. Millennium Management LLC grew its position in shares of Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after buying an additional 583,781 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Fifth Third Bancorp by 76.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after acquiring an additional 575,449 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after acquiring an additional 409,292 shares during the period. Institutional investors own 83.79% of the company’s stock.
Insider Buying and Selling
In other news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Get Our Latest Analysis on Fifth Third Bancorp
Fifth Third Bancorp Stock Performance
Shares of NASDAQ FITB opened at $42.89 on Wednesday. The stock has a market capitalization of $28.76 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The stock has a 50 day moving average price of $45.17 and a 200 day moving average price of $42.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $0.92 earnings per share. Fifth Third Bancorp’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.
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.
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