Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 291,188 shares of the financial services provider’s stock after buying an additional 21,612 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fifth Third Bancorp were worth $10,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GoalVest Advisory LLC raised its position in shares of Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares during the last quarter. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $36,000. Financial Management Professionals Inc. lifted its stake in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the period. Authentikos Wealth Advisory LLC acquired a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $46,000. Finally, Friedenthal Financial acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $48,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 1.2 %

Shares of NASDAQ FITB opened at $37.59 on Thursday. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.24. The company’s 50-day simple moving average is $36.64 and its 200-day simple moving average is $34.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.72%. Fifth Third Bancorp’s payout ratio is 44.44%.

Analyst Upgrades and Downgrades

FITB has been the topic of several research analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Evercore ISI raised 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 report on Thursday, March 28th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.50.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,857 shares of company stock valued at $1,787,638. Insiders own 0.50% of the company’s stock.

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.