Clearbridge Investments LLC Has $21.36 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Clearbridge Investments LLC lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 619,257 shares of the financial services provider’s stock after buying an additional 143,348 shares during the period. Clearbridge Investments LLC’s holdings in Fifth Third Bancorp were worth $21,358,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 300 shares in the last quarter. Independence Bank of Kentucky increased its holdings in shares of Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in Fifth Third Bancorp by 3.5% in the third quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 389 shares during the period. Vicus Capital increased its holdings in Fifth Third Bancorp by 4.1% in the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 397 shares during the period. Finally, Advisory Resource Group increased its holdings in Fifth Third Bancorp by 0.4% in the fourth quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after purchasing an additional 435 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

FITB stock opened at $36.82 on Friday. The stock has a market capitalization of $25.19 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company’s 50-day moving average is $36.67 and its 200-day moving average is $34.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. DA Davidson increased their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Robert W. Baird restated a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $36.50.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold 48,857 shares of company stock worth $1,787,638 in the last quarter. Insiders own 0.50% of the company’s stock.

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.