Todd Asset Management LLC Sells 9,571 Shares of Fifth Third Bancorp $FITB

Todd Asset Management LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,056,773 shares of the financial services provider’s stock after selling 9,571 shares during the period. Todd Asset Management LLC owned approximately 0.16% of Fifth Third Bancorp worth $47,079,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealthquest Corp lifted its holdings in shares of Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after buying an additional 244 shares during the period. Tiemann Investment Advisors LLC lifted its holdings in Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 250 shares during the period. Capital Investment Advisory Services LLC boosted its position in Fifth Third Bancorp by 1.1% in the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 251 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Fifth Third Bancorp by 4.1% during the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 260 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.6%

FITB stock opened at $52.86 on Monday. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $34.94 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.07 and a beta of 0.98. The business has a 50 day simple moving average of $49.66 and a two-hundred day simple moving average of $45.63.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The firm had revenue of $3.82 billion for the quarter. Research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

FITB has been the topic of a number of research reports. Wall Street Zen downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Stephens lifted their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Wolfe Research upped their price objective on Fifth Third Bancorp from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Citigroup boosted their price target on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada lifted their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.58.

Fifth Third Bancorp Company Profile

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.