Fragasso Financial Advisors Inc trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,449 shares of the financial services provider’s stock after selling 10,559 shares during the period. Fragasso Financial Advisors Inc’s holdings in Fifth Third Bancorp were worth $3,697,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $36,000. Hexagon Capital Partners LLC raised its stake in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $39,000. Finally, Versant Capital Management Inc raised its stake in shares of Fifth Third Bancorp by 232.0% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock worth $43,000 after buying an additional 703 shares during the last quarter. 83.79% of the stock is owned by institutional investors.
Insider Buying and Selling at Fifth Third Bancorp
In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on Fifth Third Bancorp
Fifth Third Bancorp Stock Up 0.6 %
FITB traded up $0.26 during trading hours on Monday, hitting $41.38. 1,660,114 shares of the company’s stock were exchanged, compared to its average volume of 4,321,477. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The stock’s 50-day moving average is $45.19 and its two-hundred day moving average is $42.66. The stock has a market cap of $27.75 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.18 and a beta of 1.24. 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 (NASDAQ:FITB – Get Free Report) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business 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 business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The company 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 $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.
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.
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