WINTON GROUP Ltd Sells 8,468 Shares of Fifth Third Bancorp (FITB)
WINTON GROUP Ltd decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 41.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,783 shares of the financial services provider’s stock after selling 8,468 shares during the quarter. WINTON GROUP Ltd’s holdings in Fifth Third Bancorp were worth $357,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of FITB. Victory Capital Management Inc. grew its position in Fifth Third Bancorp by 4.0% in the third quarter. Victory Capital Management Inc. now owns 216,288 shares of the financial services provider’s stock valued at $6,052,000 after acquiring an additional 8,282 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $231,000. American Century Companies Inc. acquired a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $642,000. Principal Financial Group Inc. grew its position in shares of Fifth Third Bancorp by 5.6% during the third quarter. Principal Financial Group Inc. now owns 1,555,947 shares of the financial services provider’s stock worth $43,536,000 after buying an additional 83,205 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC grew its position in shares of Fifth Third Bancorp by 11.6% during the third quarter. Global X MANAGEMENT CO LLC now owns 26,422 shares of the financial services provider’s stock worth $739,000 after buying an additional 2,742 shares in the last quarter. 83.82% of the stock is owned by institutional investors.
In related news, SVP Mark D. Hazel sold 19,324 shares of Fifth Third Bancorp stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $33.37, for a total transaction of $644,841.88. Following the sale, the senior vice president now directly owns 57,459 shares in the company, valued at $1,917,406.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Emerson L. Brumback sold 3,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $33.44, for a total transaction of $100,320.00. Following the sale, the director now owns 53,143 shares in the company, valued at $1,777,101.92. The disclosure for this sale can be found here. Insiders sold 179,410 shares of company stock worth $5,879,506 over the last quarter. 0.40% of the stock is currently owned by company insiders.
Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. During the same period last year, the business posted $0.49 earnings per share. analysts predict that Fifth Third Bancorp will post 2.3 EPS for the current fiscal year.
Fifth Third Bancorp announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 27th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, March 28th. Fifth Third Bancorp’s payout ratio is 22.46%.
FITB has been the subject of a number of recent analyst reports. BidaskClub raised shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Bank of America raised their price target on shares of Fifth Third Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $35.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, January 24th. Finally, Macquarie downgraded shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $28.47 to $26.00 in a research report on Friday, November 17th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.70.
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About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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