National Bank of Canada FI Has $5.75 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

National Bank of Canada FI cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 75.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 165,291 shares of the financial services provider’s stock after selling 510,607 shares during the period. National Bank of Canada FI’s holdings in Fifth Third Bancorp were worth $5,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FITB. Invesco Ltd. increased its holdings in Fifth Third Bancorp by 8.4% during the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after purchasing an additional 1,500,653 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after purchasing an additional 393,937 shares during the last quarter. Boston Partners grew its position in Fifth Third Bancorp by 32.1% in the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after purchasing an additional 3,176,903 shares in the last quarter. Northern Trust Corp lifted its position in Fifth Third Bancorp by 3.9% during the 3rd quarter. Northern Trust Corp now owns 6,774,568 shares of the financial services provider’s stock worth $171,600,000 after buying an additional 253,405 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Fifth Third Bancorp by 12.4% during the 4th quarter. LSV Asset Management now owns 4,335,107 shares of the financial services provider’s stock worth $149,518,000 after buying an additional 478,607 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold 48,857 shares of company stock valued at $1,787,638 over the last ninety days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 target price (up from $39.00) on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, Evercore ISI boosted their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $38.78 on Friday. The firm has a 50 day simple moving average of $36.24 and a 200 day simple moving average of $33.03. The company has a market cap of $26.53 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.46 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $39.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the prior year, the firm earned $0.78 earnings per share. Research analysts predict that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.61%. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.