Sanctuary Advisors LLC trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 32.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,100 shares of the financial services provider's stock after selling 33,413 shares during the period. Sanctuary Advisors LLC's holdings in Fifth Third Bancorp were worth $3,046,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in FITB. Venturi Wealth Management LLC grew its stake in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares in the last quarter. American Capital Advisory LLC bought a new position in Fifth Third Bancorp in the 2nd quarter worth about $34,000. Legacy Investment Solutions LLC bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $36,000. Hexagon Capital Partners LLC grew its stake in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after acquiring an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $39,000. 83.79% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on FITB shares. Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Evercore ISI upped their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Morgan Stanley upped their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $44.81.
View Our Latest Research Report on Fifth Third Bancorp
In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.
NASDAQ:FITB opened at $45.05 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.19 and a beta of 1.22. The firm has a 50 day moving average of $45.67 and a 200 day moving average of $41.82.
Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.29%. Fifth Third Bancorp's payout ratio is 49.17%.
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.
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