Signaturefd LLC Sells 1,512 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Signaturefd LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,807 shares of the financial services provider’s stock after selling 1,512 shares during the quarter. Signaturefd LLC’s holdings in Fifth Third Bancorp were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Independence Bank of Kentucky grew its position in shares of Fifth Third Bancorp by 21.1% in the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 shares during the period. Kingsview Wealth Management LLC grew its position in Fifth Third Bancorp by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 389 shares during the last quarter. Private Trust Co. NA grew its position in Fifth Third Bancorp by 24.3% during the 3rd quarter. Private Trust Co. NA now owns 2,083 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 407 shares during the last quarter. Advisory Resource Group grew its position in Fifth Third Bancorp by 0.4% during the 4th quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after purchasing an additional 435 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in Fifth Third Bancorp by 3.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 13,694 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 451 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FITB. Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price objective (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday. Stephens reissued an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday. Finally, UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.31.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $37.23 on Thursday. The firm’s 50 day moving average price is $35.42 and its 200-day moving average price is $32.10. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $25.36 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business earned $0.78 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,357 shares of company stock worth $1,693,888. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp 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.