OLD National Bancorp IN Sells 7,997 Shares of Fifth Third Bancorp (NASDAQ:FITB)

OLD National Bancorp IN reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,761 shares of the financial services provider’s stock after selling 7,997 shares during the quarter. OLD National Bancorp IN’s holdings in Fifth Third Bancorp were worth $1,406,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FITB. CWM LLC raised its holdings in Fifth Third Bancorp by 8.7% in the 3rd quarter. CWM LLC now owns 27,550 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 2,195 shares during the period. Global Retirement Partners LLC raised its holdings in Fifth Third Bancorp by 46.3% in the 3rd quarter. Global Retirement Partners LLC now owns 3,147 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 996 shares during the period. SG Americas Securities LLC raised its holdings in Fifth Third Bancorp by 3.7% in the 3rd quarter. SG Americas Securities LLC now owns 40,267 shares of the financial services provider’s stock valued at $1,020,000 after acquiring an additional 1,442 shares during the period. Meridian Wealth Management LLC raised its holdings in Fifth Third Bancorp by 109.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 77,468 shares of the financial services provider’s stock valued at $1,962,000 after acquiring an additional 40,433 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in Fifth Third Bancorp by 4.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,910 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 465 shares during the period. 83.79% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $971,490.00. Following the transaction, 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. Over the last 90 days, insiders sold 46,357 shares of company stock valued at $1,693,888. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a research report on Monday. Robert W. Baird restated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. DA Davidson increased their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $36.31.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $37.06 on Wednesday. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $35.35 and a 200 day simple moving average of $32.07. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the firm earned $0.78 EPS. Research analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.

About Fifth Third Bancorp

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.