Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 15.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,696 shares of the financial services provider’s stock after selling 2,304 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Fifth Third Bancorp were worth $544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $39,000. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $53,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FITB shares. Citigroup raised their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays raised their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley raised 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. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.62.

Fifth Third Bancorp Stock Down 0.2 %

FITB stock opened at $48.16 on Friday. The firm has a market cap of $32.29 billion, a PE ratio of 16.00, a PEG ratio of 2.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $44.61 and its 200-day moving average price is $40.97. Fifth Third Bancorp has a one year low of $26.89 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly 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 net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.07%. The ex-dividend date was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

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.