AustralianSuper Pty Ltd Sells 63,328 Shares of Fifth Third Bancorp $FITB

AustralianSuper Pty Ltd lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 35.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 114,507 shares of the financial services provider’s stock after selling 63,328 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Fifth Third Bancorp were worth $5,101,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC raised its stake in Fifth Third Bancorp by 7.1% during the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 916 shares during the period. Woodline Partners LP grew its holdings in Fifth Third Bancorp by 40.5% during the 1st quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after buying an additional 16,323 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Fifth Third Bancorp by 12.9% in the second quarter. Arkadios Wealth Advisors now owns 9,505 shares of the financial services provider’s stock worth $391,000 after buying an additional 1,086 shares in the last quarter. Assetmark Inc. boosted its position in shares of Fifth Third Bancorp by 62.9% during the second quarter. Assetmark Inc. now owns 22,380 shares of the financial services provider’s stock worth $920,000 after acquiring an additional 8,638 shares during the last quarter. Finally, South Dakota Investment Council purchased a new position in Fifth Third Bancorp during the second quarter valued at $572,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $49.54 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $32.75 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. The firm has a 50-day moving average of $50.68 and a two-hundred day moving average of $46.48. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The firm had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. On average, research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. Fifth Third Bancorp’s payout ratio is currently 45.20%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FITB. Robert W. Baird increased their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Argus raised their price objective on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Janney Montgomery Scott boosted their target price on Fifth Third Bancorp from $51.00 to $56.25 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Barclays increased their price target on Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings raised shares of Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $56.91.

Insider Activity

In related news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.