Zurcher Kantonalbank Zurich Cantonalbank Buys 31,911 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 334,379 shares of the financial services provider’s stock after acquiring an additional 31,911 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fifth Third Bancorp were worth $12,201,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $29,000. Centerpoint Advisors LLC grew its stake in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares during the last quarter. Family Firm Inc. bought a new position in shares of Fifth Third Bancorp during the second quarter valued at approximately $52,000. Blue Trust Inc. grew its stake in shares of Fifth Third Bancorp by 130.6% during the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock valued at $60,000 after buying an additional 914 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Fifth Third Bancorp during the first quarter valued at approximately $56,000. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the sale, the executive vice president now directly owns 125,087 shares in the company, valued at $5,224,883.99. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock worth $2,269,920 in the last 90 days. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 0.0 %

Shares of FITB traded down $0.01 during midday trading on Thursday, hitting $42.19. 2,355,032 shares of the company’s stock traded hands, compared to its average volume of 4,729,577. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $42.91. The firm’s fifty day moving average is $39.29 and its 200-day moving average is $37.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued 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). The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same quarter last year, the business earned $0.87 EPS. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.35 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.32%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Analysts Set New Price Targets

A number of research analysts have recently commented on FITB shares. Argus upped their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America increased their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group increased their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $40.56.

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.