OLD National Bancorp IN Has $1.17 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

OLD National Bancorp IN trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,279 shares of the financial services provider’s stock after selling 2,798 shares during the period. OLD National Bancorp IN’s holdings in Fifth Third Bancorp were worth $1,169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $34,000. Hexagon Capital Partners LLC raised its holdings in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the period. Centerpoint Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the period. Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $52,000. Finally, Mather Group LLC. acquired a new stake in shares of Fifth Third Bancorp during the first quarter worth $56,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Morgan Stanley lifted their price objective 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. Barclays lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada lifted their target price 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. Finally, Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.28.

Insider Activity

In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,000 shares of company stock worth $2,169,920. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $43.37 on Tuesday. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $45.71. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $42.24 and a two-hundred day simple moving average of $39.18. The stock has a market capitalization of $29.67 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. 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 quarter in the previous year, the company earned $0.92 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.37 dividend. The ex-dividend date was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.41%. Fifth Third Bancorp’s payout ratio is presently 46.98%.

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.