Czech National Bank Acquires 7,535 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Czech National Bank boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,886 shares of the financial services provider’s stock after purchasing an additional 7,535 shares during the period. Czech National Bank’s holdings in Fifth Third Bancorp were worth $5,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Fifth Third Bancorp in the 1st quarter valued at about $29,000. American Capital Advisory LLC acquired a new position in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $34,000. Centerpoint Advisors LLC raised its stake in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at approximately $52,000. Finally, Mather Group LLC. bought a new position in shares of Fifth Third Bancorp in the first quarter valued at $56,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 20,961 shares in the company, valued at $863,802.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock valued at $2,269,920 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $42.67 on Friday. 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 stock has a market capitalization of $29.19 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $43.85. The company has a 50-day simple moving average of $41.48 and a two-hundred day simple moving average of $38.72.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (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 company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm posted $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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

A number of analysts have commented on FITB shares. Royal Bank of Canada increased their price target 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. Evercore ISI lifted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price target on 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. Argus raised their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $41.78.

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.