Fifth Third Bancorp (NASDAQ:FITB) Position Increased by Toronto Dominion Bank

Toronto Dominion Bank boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 14.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 227,687 shares of the financial services provider’s stock after buying an additional 28,720 shares during the quarter. Toronto Dominion Bank’s holdings in Fifth Third Bancorp were worth $9,754,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fifth Third Bancorp by 0.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 143,415 shares of the financial services provider’s stock valued at $5,233,000 after purchasing an additional 589 shares during the last quarter. ORG Partners LLC purchased a new stake in Fifth Third Bancorp during the second quarter valued at about $84,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Fifth Third Bancorp by 1.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 87,989 shares of the financial services provider’s stock worth $3,211,000 after buying an additional 1,375 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Fifth Third Bancorp by 3.8% in the second quarter. Assenagon Asset Management S.A. now owns 19,965 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 733 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 914 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, valued at approximately $2,441,720.71. The trade was 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 hyperlink. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on FITB shares. Evercore ISI raised their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley upped their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $44.81.

Fifth Third Bancorp Trading Up 0.0 %

Shares of NASDAQ:FITB opened at $45.55 on Friday. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm has a fifty day moving average price of $45.54 and a 200 day moving average price of $41.63. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $30.54 billion, a PE ratio of 15.13, a P/E/G ratio of 2.19 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company posted $0.92 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. Analysts expect that Fifth Third Bancorp will post 3.34 EPS 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. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Fifth Third Bancorp 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.