Fifth Third Bancorp (NASDAQ:FITB) Stock Holdings Lifted by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,531 shares of the financial services provider’s stock after acquiring an additional 426 shares during the period. Vontobel Holding Ltd.’s holdings in Fifth Third Bancorp were worth $365,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Quent Capital LLC increased its stake in shares of Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 248 shares during the last quarter. Diversified Trust Co raised its position in shares of Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after buying an additional 259 shares during the last quarter. Bailard Inc. raised its position in shares of Fifth Third Bancorp by 0.5% during the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 264 shares during the last quarter. Lockerman Financial Group Inc. raised its position in Fifth Third Bancorp by 3.9% in the third quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 264 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in Fifth Third Bancorp by 2.0% in the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 278 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

FITB opened at $43.66 on Wednesday. The company’s 50-day simple moving average is $42.32 and its two-hundred day simple moving average is $39.24. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $45.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $29.87 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted 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). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict that Fifth Third Bancorp will post 3.31 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. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 46.98%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Bank of America lifted their price target on shares of 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, Evercore ISI boosted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.28.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.