Greenleaf Trust Has $2.12 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Greenleaf Trust lessened its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 61,584 shares of the financial services provider’s stock after selling 2,947 shares during the period. Greenleaf Trust’s holdings in Fifth Third Bancorp were worth $2,124,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Western Wealth Management LLC bought a new stake in Fifth Third Bancorp during the 4th quarter valued at $214,000. Smead Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $67,354,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Fifth Third Bancorp by 70.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,729 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 716 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Fifth Third Bancorp by 6.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fifth Third Bancorp by 2.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 596,732 shares of the financial services provider’s stock worth $20,581,000 after purchasing an additional 16,813 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock traded up $2.03 during trading on Friday, reaching $36.25. 13,812,465 shares of the company’s stock traded hands, compared to its average volume of 4,201,311. The firm’s 50-day moving average is $35.21 and its 200 day moving average is $31.78. The company has a market capitalization of $24.69 billion, a P/E ratio of 11.22, a PEG ratio of 1.30 and a beta of 1.27. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the prior year, the company earned $0.78 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 43.34%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group reaffirmed a “neutral” rating and set a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Royal Bank of Canada increased their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Morgan Stanley boosted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Barclays upped their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.63.

Insider Activity

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

Fifth Third Bancorp Company 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.