Coldstream Capital Management Inc. Grows Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Coldstream Capital Management Inc. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,591 shares of the financial services provider’s stock after purchasing an additional 635 shares during the period. Coldstream Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $788,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Morningstar Investment Management LLC acquired a new position in Fifth Third Bancorp in the 4th quarter worth $2,257,000. Bank of Nova Scotia boosted its holdings in Fifth Third Bancorp by 31.6% in the fourth quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock valued at $3,056,000 after purchasing an additional 21,251 shares during the last quarter. Park National Corp OH grew its stake in Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 5,411 shares in the last quarter. rhino investment partners Inc increased its holdings in Fifth Third Bancorp by 20.1% during the 4th quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock worth $44,891,000 after purchasing an additional 217,956 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Fifth Third Bancorp by 8.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock valued at $10,043,000 after purchasing an additional 21,612 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FITB shares. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley lifted their price target on Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Bank of America upped their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Stephens reiterated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Finally, StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.56.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $41.17 on Friday. The company has a 50-day moving average price of $40.48 and a two-hundred day moving average price of $37.79. The stock has a market cap of $28.16 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. Analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.59%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now directly owns 125,087 shares in the company, valued at approximately $5,224,883.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock valued at $2,269,920 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.