US Bancorp DE Sells 10,345 Shares of Fifth Third Bancorp $FITB

US Bancorp DE trimmed its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,253 shares of the financial services provider’s stock after selling 10,345 shares during the period. US Bancorp DE’s holdings in Fifth Third Bancorp were worth $17,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. Vanguard Group Inc. increased its holdings in Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock worth $3,929,647,000 after purchasing an additional 637,207 shares in the last quarter. Capital World Investors increased its holdings in Fifth Third Bancorp by 6.2% during the 3rd quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock worth $1,373,490,000 after purchasing an additional 1,803,861 shares in the last quarter. Invesco Ltd. increased its holdings in Fifth Third Bancorp by 2.6% during the 3rd quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock worth $945,556,000 after purchasing an additional 546,914 shares in the last quarter. Bank of America Corp DE increased its holdings in Fifth Third Bancorp by 16.7% during the 3rd quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock worth $714,457,000 after purchasing an additional 2,293,939 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Fifth Third Bancorp by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 7,931,624 shares of the financial services provider’s stock worth $353,354,000 after purchasing an additional 690,648 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

FITB stock opened at $50.46 on Friday. The firm has a market cap of $45.70 billion, a PE ratio of 16.93, a P/E/G ratio of 1.04 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $48.11 and a 200-day moving average of $47.25. Fifth Third Bancorp has a 12-month low of $36.48 and a 12-month high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 4.09 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Analyst Ratings Changes

A number of brokerages have commented on FITB. Robert W. Baird boosted their price objective on Fifth Third Bancorp from $55.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. UBS Group reissued a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, February 4th. Citigroup boosted their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Weiss Ratings raised Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $57.19.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.