Transcend Capital Advisors LLC Sells 1,084 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Transcend Capital Advisors LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) 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 (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, equities analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current year.

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.

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.