Hengehold Capital Management LLC Cuts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Hengehold Capital Management LLC lowered its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,561 shares of the financial services provider’s stock after selling 580 shares during the period. Hengehold Capital Management LLC’s holdings in Fifth Third Bancorp were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dark Forest Capital Management LP bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $247,000. LPL Financial LLC increased its stake in Fifth Third Bancorp by 10.1% in the 3rd quarter. LPL Financial LLC now owns 415,108 shares of the financial services provider’s stock worth $10,515,000 after acquiring an additional 38,118 shares during the last quarter. Stifel Financial Corp increased its stake in Fifth Third Bancorp by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 555,027 shares of the financial services provider’s stock worth $14,059,000 after acquiring an additional 6,860 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Fifth Third Bancorp by 119.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,375 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,384 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in Fifth Third Bancorp by 6.7% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,123 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Evercore ISI reduced their price objective on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday. 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 research report on Monday, April 22nd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $37.26.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 1.3 %

NASDAQ FITB traded up $0.46 on Friday, hitting $36.31. The company’s stock had a trading volume of 3,741,045 shares, compared to its average volume of 4,834,591. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company’s 50-day simple moving average is $36.88 and its 200 day simple moving average is $35.50. The firm has a market cap of $24.84 billion, a P/E ratio of 11.59, a PEG ratio of 2.48 and a beta of 1.24.

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

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

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.