Fifth Third Bancorp (NASDAQ:FITB) Stake Lifted by Vest Financial LLC

Vest Financial LLC increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 23.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,562 shares of the financial services provider’s stock after purchasing an additional 120,162 shares during the period. Vest Financial LLC owned 0.09% of Fifth Third Bancorp worth $23,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FITB. Bailard Inc. raised its holdings in shares of Fifth Third Bancorp by 0.5% in the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 264 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Fifth Third Bancorp by 2.0% during the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 278 shares during the last quarter. SVB Wealth LLC boosted its position in shares of Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 283 shares during the period. Signaturefd LLC increased its position in shares of Fifth Third Bancorp by 2.6% in 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 in the last quarter. Finally, Lcnb Corp lifted its position in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after acquiring an additional 319 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 completion of the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Kevin P. Lavender sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the transaction, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,500 shares of company stock valued at $2,269,920. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Up 0.4 %

Shares of FITB stock opened at $41.12 on Thursday. The company has a market capitalization of $28.13 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50 day simple moving average is $40.39 and its 200 day simple moving average is $37.76. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $42.91.

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

Analysts Set New Price Targets

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