Foster & Motley Inc. Sells 2,089 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Foster & Motley Inc. trimmed its position in Fifth Third Bancorp (NASDAQ:FITB) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,864 shares of the financial services provider’s stock after selling 2,089 shares during the period. Foster & Motley Inc.’s holdings in Fifth Third Bancorp were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC increased its holdings in Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC bought a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $36,000. Financial Management Professionals Inc. increased its holdings in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. Friedenthal Financial bought a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $48,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Fifth Third Bancorp by 83.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock worth $53,000 after buying an additional 695 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FITB. Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Evercore ISI upped their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Robert W. Baird reiterated a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. DA Davidson upped their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday. Finally, UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $36.31.

Fifth Third Bancorp Stock Up 1.4 %

Shares of NASDAQ:FITB opened at $37.06 on Wednesday. The stock’s 50-day moving average price is $35.35 and its 200-day moving average price is $32.07. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41. The stock has a market capitalization of $25.25 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period last year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock worth $1,693,888 over the last three months. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Company 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.