Bokf Na Reduces Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Bokf Na lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 47,048 shares of the financial services provider’s stock after selling 421 shares during the quarter. Bokf Na’s holdings in Fifth Third Bancorp were worth $1,935,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $28,000. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Quarry LP acquired a new position in Fifth Third Bancorp during the fourth quarter worth $29,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $37.25 on Friday. The company’s 50 day simple moving average is $37.04 and its 200-day simple moving average is $41.94. The firm has a market cap of $24.88 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

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

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.97%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FITB. DA Davidson decreased their target price on Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Citigroup cut their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Baird R W raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Truist Financial cut their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $46.24.

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.