Fifth Third Bancorp (NASDAQ:FITB) Short Interest Update

Fifth Third Bancorp (NASDAQ:FITB) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 18,790,000 shares, a drop of 9.5% from the September 30th total of 20,760,000 shares. Based on an average trading volume of 3,990,000 shares, the short-interest ratio is currently 4.7 days. Approximately 2.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Argus increased their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays increased their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Bank of America boosted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.28.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock traded up $0.17 during trading hours on Friday, reaching $43.85. 1,081,929 shares of the company’s stock were exchanged, compared to its average volume of 4,596,011. The business has a fifty day moving average of $42.78 and a two-hundred day moving average of $39.60. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 1 year low of $24.02 and a 1 year high of $45.71. The company has a market capitalization of $29.68 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of FITB. Quent Capital LLC lifted its holdings in shares of Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co grew its position in shares of Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 259 shares during the last quarter. Bailard Inc. increased 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 valued at $1,885,000 after acquiring an additional 264 shares during the period. Lockerman Financial Group Inc. raised its position in Fifth Third Bancorp by 3.9% in the 3rd quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 264 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in Fifth Third Bancorp by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 278 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

About Fifth Third Bancorp

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.