Massmutual Trust Co. FSB ADV Sells 4,027 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Massmutual Trust Co. FSB ADV decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,858 shares of the financial services provider’s stock after selling 4,027 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Fifth Third Bancorp were worth $3,717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in Fifth Third Bancorp by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after acquiring an additional 3,476 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth $2,257,000. Bank of Nova Scotia lifted its stake in Fifth Third Bancorp by 31.6% in the fourth quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock worth $3,056,000 after purchasing an additional 21,251 shares during the last quarter. rhino investment partners Inc boosted its position in Fifth Third Bancorp by 20.1% during the fourth quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock valued at $44,891,000 after buying an additional 217,956 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Fifth Third Bancorp by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock valued at $10,043,000 after buying an additional 21,612 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB traded down $0.32 during trading hours on Monday, reaching $39.23. 6,591,792 shares of the company traded hands, compared to its average volume of 4,902,613. The stock has a market capitalization of $26.84 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average price of $37.77 and a 200-day moving average price of $36.42. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $42.91.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.57%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the transaction, the executive vice president now directly owns 125,087 shares in the company, valued at $5,224,883.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The disclosure for this sale can be found here. Insiders sold 34,500 shares of company stock worth $1,429,920 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FITB has been the subject of several analyst reports. Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, May 31st. Morgan Stanley boosted their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Bank of America boosted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.56.

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.