Transcend Capital Advisors LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,930 shares of the financial services provider’s stock after selling 1,084 shares during the period. Transcend Capital Advisors LLC’s holdings in Fifth Third Bancorp were worth $472,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp during the first quarter valued at about $29,000. Centerpoint Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $48,000. Mather Group LLC. acquired a new stake in shares of Fifth Third Bancorp during the first quarter valued at about $56,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Fifth Third Bancorp by 327.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,675 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,283 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.
Fifth Third Bancorp Stock Down 2.9 %
Shares of NASDAQ FITB traded down $1.18 during midday trading on Friday, hitting $39.55. 7,435,342 shares of the stock traded hands, compared to its average volume of 5,052,022. The company has a market cap of $27.05 billion, a PE ratio of 12.56, a P/E/G ratio of 1.91 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $42.91. The business has a 50 day moving average price of $37.77 and a two-hundred day moving average price of $36.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81.
Fifth Third Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.54%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.
Insider Buying and Selling
In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,500 shares of company stock worth $1,429,920. 0.50% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently commented on the company. DA Davidson lifted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Evercore ISI cut their price objective on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Finally, Argus lifted their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.15.
View Our Latest Research Report on FITB
About Fifth Third Bancorp
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.
Further Reading
- Five stocks we like better than Fifth Third Bancorp
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Market Crash? No Problem for DoorDash Stock’s Impressive Earnings
- Earnings Per Share Calculator: How to Calculate EPS
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- Pros And Cons Of Monthly Dividend Stocks
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
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:FITB – Free Report).
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.