UniSuper Management Pty Ltd Has $902,000 Holdings in Fifth Third Bancorp (NASDAQ:FITB)

UniSuper Management Pty Ltd boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1,040.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,244 shares of the financial services provider’s stock after buying an additional 22,118 shares during the period. UniSuper Management Pty Ltd’s holdings in Fifth Third Bancorp were worth $902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. acquired a new position in Fifth Third Bancorp in the first quarter worth approximately $29,000. Denali Advisors LLC acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $36,000. Centerpoint Advisors LLC increased its holdings in Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares during the last quarter. Friedenthal Financial acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $48,000. Finally, Mather Group LLC. acquired a new position in Fifth Third Bancorp in the first quarter worth approximately $56,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.9 %

FITB traded up $0.37 during midday trading on Thursday, reaching $41.35. 183,037 shares of the company were exchanged, compared to its average volume of 4,864,090. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $41.85. The stock has a market capitalization of $28.29 billion, a P/E ratio of 13.01, a PEG ratio of 2.35 and a beta of 1.24. The stock’s 50-day simple moving average is $37.25 and its 200 day simple moving average is $36.07.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm earned $0.87 EPS. As a group, analysts forecast that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 of the company’s stock, valued at approximately $5,134,575. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FITB shares. Jefferies Financial Group increased their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. DA Davidson upped their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, UBS Group restated a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.15.

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.