Los Angeles Capital Management LLC Has $49.21 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Los Angeles Capital Management LLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 20.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,148,765 shares of the financial services provider’s stock after selling 298,764 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fifth Third Bancorp were worth $49,213,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Baker Avenue Asset Management LP bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $225,000. Assetmark Inc. boosted its stake in Fifth Third Bancorp by 12.9% during the 3rd quarter. Assetmark Inc. now owns 4,126 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 471 shares during the last quarter. Shoker Investment Counsel Inc. boosted its stake in Fifth Third Bancorp by 3.7% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 11,945 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 422 shares during the last quarter. TFB Advisors LLC bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $223,000. Finally, Principal Financial Group Inc. boosted its stake in Fifth Third Bancorp by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock worth $35,194,000 after acquiring an additional 14,137 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Argus lifted their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America lifted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.28.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Stock Up 0.7 %

Shares of FITB stock traded up $0.33 during trading on Friday, reaching $46.26. The company’s stock had a trading volume of 3,674,738 shares, compared to its average volume of 5,063,957. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.25 and a beta of 1.21. Fifth Third Bancorp has a one year low of $24.64 and a one year high of $46.90. The business has a fifty day moving average price of $43.09 and a 200-day moving average price of $40.02. 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) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. Fifth Third Bancorp’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.20%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 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.