Gulf International Bank UK Ltd reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 235,777 shares of the financial services provider’s stock after selling 11,491 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Fifth Third Bancorp were worth $7,153,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of FITB. Vanguard Group Inc. raised its stake in Fifth Third Bancorp by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock valued at $1,502,604,000 after acquiring an additional 639,361 shares during the period. Sanders Capital LLC raised its stake in Fifth Third Bancorp by 1.7% in the 3rd quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock valued at $390,680,000 after acquiring an additional 224,800 shares during the period. Dimensional Fund Advisors LP raised its stake in Fifth Third Bancorp by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock valued at $269,182,000 after acquiring an additional 431,863 shares during the period. Janus Henderson Group PLC raised its stake in Fifth Third Bancorp by 7,461.4% in the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock valued at $197,608,000 after acquiring an additional 7,511,357 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Fifth Third Bancorp by 0.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock valued at $206,228,000 after acquiring an additional 68,086 shares during the period. 83.86% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the company. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Robert W. Baird cut Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research note on Monday, October 2nd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, October 11th. BMO Capital Markets restated a “hold” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Friday, December 8th. Finally, Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Thursday, December 7th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.33.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period in the prior year, the business earned $0.65 earnings per share. equities analysts anticipate that Fifth Third Bancorp will post 1.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 24.15%.
In related news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
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Fifth Third Bancorp Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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