Los Angeles Capital Management LLC Sells 59,505 Shares of Fifth Third Bancorp $FITB

Los Angeles Capital Management LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,987 shares of the financial services provider’s stock after selling 59,505 shares during the period. Los Angeles Capital Management LLC’s holdings in Fifth Third Bancorp were worth $14,698,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its position 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 worth $543,000 after acquiring an additional 916 shares during the last quarter. Woodline Partners LP lifted its position 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 worth $2,218,000 after acquiring an additional 16,323 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Fifth Third Bancorp by 45.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 759 shares during the last quarter. Brown Advisory Inc. lifted its position in Fifth Third Bancorp by 5.0% during the 2nd quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 484 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Fifth Third Bancorp during the 2nd quarter worth $968,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Jefferies Financial Group boosted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Morgan Stanley cut their target price on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Barclays boosted their target price on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.19.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $52.01 on Monday. The company has a 50-day simple moving average of $49.08 and a 200-day simple moving average of $48.52. The firm has a market capitalization of $47.14 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a 52 week low of $37.86 and a 52 week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, equities research analysts expect that Fifth Third Bancorp will post 4.1 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

About Fifth Third Bancorp

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.