Natixis Advisors L.P. Acquires 93,525 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Natixis Advisors L.P. raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 765,328 shares of the financial services provider’s stock after acquiring an additional 93,525 shares during the quarter. Natixis Advisors L.P. owned about 0.11% of Fifth Third Bancorp worth $26,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. First Trust Direct Indexing L.P. grew its holdings in Fifth Third Bancorp by 20.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 12,506 shares of the financial services provider’s stock valued at $431,000 after buying an additional 2,104 shares in the last quarter. New York Life Investment Management LLC boosted its position in shares of Fifth Third Bancorp by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 106,130 shares of the financial services provider’s stock valued at $3,660,000 after acquiring an additional 710 shares during the period. Searle & CO. purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $5,692,000. Gibraltar Capital Management Inc. bought a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $856,000. Finally, Savant Capital LLC lifted its stake in Fifth Third Bancorp by 11.2% in the 4th quarter. Savant Capital LLC now owns 16,876 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 1,706 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on FITB shares. Robert W. Baird restated a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 target price (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Finally, DA Davidson increased their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Fifth Third Bancorp Stock Up 1.8 %

Shares of NASDAQ FITB opened at $37.56 on Friday. The firm’s fifty day moving average is $35.88 and its 200 day moving average is $32.65. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.77. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market cap of $25.58 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.42 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is currently owned by 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.