Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,749 shares of the financial services provider’s stock after acquiring an additional 260 shares during the quarter. Metis Global Partners LLC’s holdings in Fifth Third Bancorp were worth $932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors increased its position in Fifth Third Bancorp by 13.4% in the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after buying an additional 5,512,333 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $33,337,000. Millennium Management LLC boosted its stake in Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares during the period. Employees Retirement System of Texas grew its position in Fifth Third Bancorp by 38.7% in the 2nd quarter. Employees Retirement System of Texas now owns 1,433,900 shares of the financial services provider’s stock worth $52,323,000 after purchasing an additional 399,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Fifth Third Bancorp by 4.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock valued at $371,837,000 after purchasing an additional 399,827 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted 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. Barclays raised their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Argus upped their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Morgan Stanley upped 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 report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $43.09.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This trade represents a 14.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

FITB stock opened at $46.99 on Monday. The firm has a 50 day moving average of $43.61 and a two-hundred day moving average of $40.41. Fifth Third Bancorp has a 12 month low of $26.89 and a 12 month high of $48.10. The company has a market capitalization of $31.51 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 2.25 and a beta of 1.21. 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 posted 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 period in the previous year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current fiscal 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 given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.15%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is presently 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.