Raymond James & Associates Has $25.91 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Raymond James & Associates lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.7% in the third quarter, Holdings Channel reports. The institutional investor owned 604,688 shares of the financial services provider’s stock after selling 57,293 shares during the period. Raymond James & Associates’ holdings in Fifth Third Bancorp were worth $25,905,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Capital World Investors raised its stake in Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after purchasing an additional 5,512,333 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Fifth Third Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after buying an additional 281,494 shares in the last quarter. LSV Asset Management boosted its stake in shares of Fifth Third Bancorp by 2.3% in the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock valued at $165,015,000 after buying an additional 99,593 shares during the period. Envestnet Asset Management Inc. grew its position in Fifth Third Bancorp by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock worth $62,096,000 after buying an additional 56,298 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Fifth Third Bancorp by 37.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,629,456 shares of the financial services provider’s stock worth $60,632,000 after acquiring an additional 442,121 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $44.06 on Friday. The business has a 50 day moving average of $42.40 and a 200-day moving average of $39.27. The company has a market capitalization of $30.14 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $45.71. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81.

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 net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business posted $0.92 EPS. Fifth Third Bancorp’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. 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

FITB has been the subject of a number of recent analyst reports. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley upped their price objective 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. Royal Bank of Canada raised their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Barclays upped their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Evercore ISI lifted 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 note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.28.

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.