Fifth Third Bancorp (NASDAQ:FITB) Holdings Decreased by IFP Advisors Inc

IFP Advisors Inc decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,927 shares of the financial services provider’s stock after selling 520 shares during the quarter. IFP Advisors Inc’s holdings in Fifth Third Bancorp were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FITB. Charles Schwab Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after buying an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Fifth Third Bancorp during the third quarter valued at $28,490,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after buying an additional 575,449 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after buying an additional 409,292 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Fifth Third Bancorp during the third quarter valued at $12,895,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $43.47 on Friday. Fifth Third Bancorp has a twelve month low of $33.48 and a twelve month high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $28.93 billion, a PE ratio of 13.84, a P/E/G ratio of 1.42 and a beta of 1.23. The stock has a 50-day simple moving average of $43.43 and a 200 day simple moving average of $43.77.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. DA Davidson boosted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $46.75.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.