HBK Sorce Advisory LLC Sells 504 Shares of Fifth Third Bancorp (NASDAQ:FITB)

HBK Sorce Advisory LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,956 shares of the financial services provider’s stock after selling 504 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Fifth Third Bancorp were worth $1,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in 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 valued at $294,000 after purchasing an additional 300 shares during the period. Lcnb Corp grew its stake in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after buying an additional 319 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Fifth Third Bancorp by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after buying an additional 328 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of Fifth Third Bancorp by 21.1% in the 4th 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. Finally, State of Alaska Department of Revenue grew its stake in shares of Fifth Third Bancorp by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after buying an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold 19,857 shares of company stock valued at $734,248 over the last 90 days. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.76 during trading hours on Friday, reaching $40.99. 7,145,207 shares of the company were exchanged, compared to its average volume of 4,888,647. 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 stock’s 50-day moving average is $37.05 and its 200-day moving average is $35.88. The firm has a market cap of $28.04 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $41.41.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter in the previous year, the business posted $0.87 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.29 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FITB. UBS Group reiterated a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Friday, May 31st. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.15.

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.