Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 18.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,107 shares of the financial services provider’s stock after selling 8,206 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Fifth Third Bancorp were worth $1,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC raised its holdings in Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares during the period. Quent Capital LLC lifted its position in shares of Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 248 shares in the last quarter. Diversified Trust Co boosted its stake in Fifth Third Bancorp by 2.6% in the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 259 shares during the period. Metis Global Partners LLC grew its position in Fifth Third Bancorp by 1.2% during the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 260 shares in the last quarter. Finally, Bailard Inc. raised its position in Fifth Third Bancorp by 0.5% during the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 264 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Performance

FITB opened at $48.44 on Tuesday. The stock has a market cap of $32.48 billion, a PE ratio of 16.09, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock’s 50 day simple moving average is $44.29 and its 200-day simple moving average is $40.80. Fifth Third Bancorp has a 1 year low of $26.89 and a 1 year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore ISI increased their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley raised their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays increased their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.62.

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.