Skandinaviska Enskilda Banken AB publ reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,939 shares of the financial services provider’s stock after selling 12,606 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fifth Third Bancorp were worth $7,228,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Pinnacle Wealth Management Group Inc. bought a new stake in Fifth Third Bancorp during the second quarter valued at $210,000. Empirical Finance LLC bought a new stake in Fifth Third Bancorp during the second quarter worth about $322,000. Ethic Inc. lifted its stake in Fifth Third Bancorp by 37.1% during the second quarter. Ethic Inc. now owns 49,622 shares of the financial services provider’s stock worth $1,897,000 after purchasing an additional 13,425 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in Fifth Third Bancorp by 1.3% during the second quarter. Linscomb & Williams Inc. now owns 34,511 shares of the financial services provider’s stock worth $1,319,000 after purchasing an additional 441 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Fifth Third Bancorp during the second quarter worth about $6,305,000. 80.25% of the stock is owned by institutional investors.
Shares of NASDAQ:FITB opened at $40.40 on Friday. Fifth Third Bancorp has a 1 year low of $19.32 and a 1 year high of $43.06. The company has a market cap of $27.91 billion, a PE ratio of 11.78, a P/E/G ratio of 1.28 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.89 and a quick ratio of 0.86. The stock’s 50-day moving average is $37.81 and its 200 day moving average is $38.73.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.30 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, September 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.97%. Fifth Third Bancorp’s dividend payout ratio is 50.00%.
In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 6,372 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $38.41, for a total transaction of $244,748.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the company. Odeon Capital Group lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Stephens reiterated an “overweight” rating and issued a $35.84 price objective (down previously from $46.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 27th. Citigroup assumed coverage on Fifth Third Bancorp in a report on Friday, July 16th. They issued a “hold” rating and a $36.73 price objective on the stock. Finally, Robert W. Baird lifted their price objective on Fifth Third Bancorp from $39.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, June 3rd. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Buy” and an average price target of $38.96.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.
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