Fifth Third Bancorp (NASDAQ:FITB) Stock Position Decreased by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,432 shares of the financial services provider’s stock after selling 20,417 shares during the quarter. Voya Investment Management LLC’s holdings in Fifth Third Bancorp were worth $8,136,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FITB. World Investment Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth $263,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth $191,000. Tidal Investments LLC boosted its stake in shares of Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 2,265 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after acquiring an additional 409,292 shares in the last quarter. Finally, 1ST Source Bank purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at $211,000. 83.79% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FITB has been the topic of a number of research analyst reports. Robert W. Baird upgraded Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Monday, April 7th. Morgan Stanley lowered their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company lowered their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their price target on Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Finally, Stephens reiterated an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.24.

Fifth Third Bancorp Stock Up 1.2 %

FITB stock opened at $36.16 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day moving average of $37.93 and a two-hundred day moving average of $42.30. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the business posted $0.70 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.09%. Fifth Third Bancorp’s payout ratio is 46.98%.

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.