Thomas Story & Son LLC Acquires New Shares in Fifth Third Bancorp (NASDAQ:FITB)

Thomas Story & Son LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITBFree Report) during the 4th quarter, Holdings Channel.com reports. The fund bought 6,850 shares of the financial services provider’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also bought and sold shares of FITB. Capital World Investors boosted its position in Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after purchasing an additional 10,472,392 shares during the last quarter. Norges Bank purchased a new position in Fifth Third Bancorp in the fourth quarter worth about $257,189,000. Smead Capital Management Inc. purchased a new position in Fifth Third Bancorp in the fourth quarter worth about $67,354,000. Invesco Ltd. boosted its position in Fifth Third Bancorp by 8.4% in the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after purchasing an additional 1,500,653 shares during the last quarter. Finally, Boston Partners boosted its position in Fifth Third Bancorp by 11.5% in the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after purchasing an additional 1,499,194 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold a total of 22,357 shares of company stock valued at $816,148 in the last quarter. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded down $0.39 during trading hours on Friday, reaching $35.22. The stock had a trading volume of 5,246,604 shares, compared to its average volume of 3,556,331. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14. The company has a 50 day moving average price of $36.71 and a two-hundred day moving average price of $35.17. The stock has a market capitalization of $24.09 billion, a PE ratio of 11.18, a PEG ratio of 2.45 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FITB. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. 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 report on Thursday, April 4th. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Friday, May 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.21.

Read Our Latest Analysis on Fifth Third Bancorp

About Fifth Third Bancorp

(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.

See Also

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

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

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