RDL Financial Inc. decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,875 shares of the financial services provider’s stock after selling 7,939 shares during the period. Fifth Third Bancorp accounts for 1.7% of RDL Financial Inc.’s investment portfolio, making the stock its 22nd largest position. RDL Financial Inc.’s holdings in Fifth Third Bancorp were worth $2,664,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the period. Quadrant Capital Group LLC increased its stake in Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock worth $138,000 after buying an additional 370 shares during the period. YorkBridge Wealth Partners LLC increased its stake in Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock worth $142,000 after buying an additional 298 shares during the period. Robecosam AG increased its stake in Fifth Third Bancorp by 6.3% in the first quarter. Robecosam AG now owns 8,500 shares of the financial services provider’s stock worth $219,000 after buying an additional 500 shares during the period. Finally, Brown Advisory Inc. purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $224,000. 81.20% of the stock is currently owned by institutional investors and hedge funds.
Fifth Third Bancorp (FITB) opened at 24.66 on Monday. Fifth Third Bancorp has a 52-week low of $16.14 and a 52-week high of $28.97. The company has a market cap of $18.50 billion, a PE ratio of 12.90 and a beta of 1.35. The company has a 50-day moving average of $24.57 and a 200 day moving average of $25.89.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. Fifth Third Bancorp had a net margin of 22.64% and a return on equity of 10.12%. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts predict that Fifth Third Bancorp will post $1.79 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 2.27%. Fifth Third Bancorp’s dividend payout ratio is 29.17%.
FITB has been the topic of a number of recent research reports. Compass Point raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 29th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 target price on shares of Fifth Third Bancorp in a research report on Thursday, May 18th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Tuesday, February 28th. TheStreet downgraded Fifth Third Bancorp from a “b” rating to a “c+” rating in a report on Friday, May 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.50 price objective on shares of Fifth Third Bancorp in a report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.30.
In related news, EVP Frank R. Forrest sold 13,321 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $24.63, for a total transaction of $328,096.23. Following the sale, the executive vice president now owns 71,793 shares in the company, valued at approximately $1,768,261.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Teresa J. Tanner sold 54,984 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $24.88, for a total transaction of $1,368,001.92. Following the sale, the chief accounting officer now owns 41,286 shares in the company, valued at approximately $1,027,195.68. The disclosure for this sale can be found here. Insiders have sold a total of 109,315 shares of company stock worth $2,716,947 in the last quarter. 0.38% of the stock is currently owned by company insiders.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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