FNY Investment Advisers LLC Acquires New Stake in Fifth Third Bancorp (NASDAQ:FITB)

FNY Investment Advisers LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,200 shares of the financial services provider’s stock, valued at approximately $177,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. raised its position in shares of Fifth Third Bancorp by 15.1% during the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Fifth Third Bancorp by 13.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after purchasing an additional 55,081 shares during the period. Icon Wealth Advisors LLC bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $541,000. Nordea Investment Management AB raised its holdings in Fifth Third Bancorp by 8.9% during the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock worth $28,286,000 after purchasing an additional 54,463 shares during the last quarter. Finally, First National Trust Co lifted its position in shares of Fifth Third Bancorp by 44.9% in the 3rd quarter. First National Trust Co now owns 77,099 shares of the financial services provider’s stock worth $3,303,000 after purchasing an additional 23,890 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 2.8 %

FITB opened at $42.89 on Wednesday. The firm has a market capitalization of $28.76 billion, a PE ratio of 14.25, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company’s 50-day moving average is $45.17 and its 200 day moving average is $42.75.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s payout ratio is 49.17%.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the company’s 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 directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on FITB. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays raised their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.92.

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.