Bahl & Gaynor Inc. Trims Position in Fifth Third Bancorp (NASDAQ:FITB)

Bahl & Gaynor Inc. lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,368 shares of the financial services provider’s stock after selling 1,308 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Fifth Third Bancorp were worth $5,159,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bailard Inc. increased its holdings in shares of Fifth Third Bancorp by 0.5% in the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 264 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Fifth Third Bancorp by 2.0% in the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 278 shares in the last quarter. SVB Wealth LLC increased its stake in shares of Fifth Third Bancorp by 3.8% during the first quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 283 shares during the period. Signaturefd LLC increased its stake in shares of Fifth Third Bancorp by 2.6% during the second quarter. Signaturefd LLC now owns 12,424 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 314 shares during the period. Finally, Lcnb Corp raised its holdings in Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $41.12 on Thursday. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $42.91. The stock has a market cap of $28.13 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The business’s fifty day moving average price is $40.39 and its two-hundred day moving average price is $37.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm posted $0.87 EPS. On average, analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,500 shares of company stock valued at $2,269,920. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Friday, May 31st. Finally, Bank of America raised their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $40.56.

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.