First National Trust Co Sells 22,247 Shares of Fifth Third Bancorp $FITB

First National Trust Co lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 29.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,916 shares of the financial services provider’s stock after selling 22,247 shares during the quarter. First National Trust Co’s holdings in Fifth Third Bancorp were worth $2,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FITB. Profund Advisors LLC boosted its holdings in Fifth Third Bancorp by 7.6% during the third quarter. Profund Advisors LLC now owns 11,161 shares of the financial services provider’s stock worth $497,000 after buying an additional 787 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Fifth Third Bancorp by 82.1% in the 3rd quarter. ProShare Advisors LLC now owns 291,786 shares of the financial services provider’s stock valued at $12,999,000 after acquiring an additional 131,576 shares during the last quarter. Western Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 8.8% in the 3rd quarter. Western Wealth Management LLC now owns 6,680 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 538 shares during the period. REAP Financial Group LLC boosted its stake in Fifth Third Bancorp by 14.7% during the 3rd quarter. REAP Financial Group LLC now owns 2,583 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 331 shares during the last quarter. Finally, MCF Advisors LLC grew its holdings in Fifth Third Bancorp by 6.4% during the third quarter. MCF Advisors LLC now owns 68,698 shares of the financial services provider’s stock valued at $3,081,000 after purchasing an additional 4,127 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

FITB opened at $54.50 on Wednesday. The company has a market capitalization of $36.03 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.10 and a beta of 0.99. The business’s 50-day moving average price is $49.16 and its two-hundred day moving average price is $45.40. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.36. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 45.20%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp 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 sale, the executive vice president directly owned 129,191 shares in the company, valued at $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FITB has been the topic of several analyst reports. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $52.00 to $57.00 in a report on Thursday, February 5th. Piper Sandler raised their price objective on Fifth Third Bancorp from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. UBS Group reiterated a “buy” rating and set a $59.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, February 4th. Argus increased their price target on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.58.

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.