Sanibel Captiva Trust Company Inc. Sells 650 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Sanibel Captiva Trust Company Inc. lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 6.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,802 shares of the financial services provider’s stock after selling 650 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Fifth Third Bancorp were worth $345,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FITB. Boston Partners raised its stake in shares of Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after acquiring an additional 823,803 shares in the last quarter. Deutsche Bank AG grew its position in shares of Fifth Third Bancorp by 27.3% during the 4th quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider’s stock worth $86,535,000 after buying an additional 438,446 shares in the last quarter. AMJ Financial Wealth Management grew its position in shares of Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after buying an additional 9,401 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Fifth Third Bancorp during the 4th quarter worth $357,000. Finally, Fred Alger Management LLC grew its position in shares of Fifth Third Bancorp by 29.5% during the 4th quarter. Fred Alger Management LLC now owns 65,867 shares of the financial services provider’s stock worth $2,809,000 after buying an additional 15,023 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FITB. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods dropped their price objective on Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. DA Davidson raised Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and raised their price objective for the company from $42.00 to $47.00 in a research report on Monday. Barclays dropped their price objective on Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, Jefferies Financial Group started coverage on Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a “buy” rating and a $47.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.53.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $39.14 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $26.13 billion, a PE ratio of 12.46, a P/E/G ratio of 1.42 and a beta of 0.90. The business has a 50-day simple moving average of $36.85 and a two-hundred day simple moving average of $40.82. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two 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 earnings per share 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 business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $0.70 earnings per share. As a group, equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp’s payout ratio is 46.98%.

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.