Fifth Third Bancorp (NASDAQ:FITB) Stock Position Lifted by Everence Capital Management Inc.

Everence Capital Management Inc. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 54.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,060 shares of the financial services provider’s stock after buying an additional 10,570 shares during the period. Everence Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $1,037,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GoalVest Advisory LLC lifted its holdings in Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp during the 4th quarter worth approximately $36,000. Financial Management Professionals Inc. lifted its holdings in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Fifth Third Bancorp during the 4th quarter worth approximately $38,000. Finally, Covestor Ltd lifted its holdings in shares of Fifth Third Bancorp by 43.9% in the 1st quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FITB shares. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Barclays raised their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. UBS Group reissued a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Wells Fargo & Company raised their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $35.63.

Insider Activity

In related news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Down 1.5 %

Shares of FITB stock opened at $34.09 on Wednesday. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The stock has a market cap of $23.22 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. The business’s fifty day moving average is $35.13 and its 200-day moving average is $31.66. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm earned $1.04 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.19 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Fifth Third Bancorp 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.