Van Hulzen Asset Management LLC Decreases Position in Fifth Third Bancorp (NASDAQ:FITB)

Van Hulzen Asset Management LLC lowered its holdings in Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 12,400 shares of the financial services provider’s stock after selling 700 shares during the period. Van Hulzen Asset Management LLC’s holdings in Fifth Third Bancorp were worth $540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. D Orazio & Associates Inc. purchased a new position in Fifth Third Bancorp in the third quarter valued at about $25,000. Consolidated Planning Corp bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $28,000. Kings Point Capital Management bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $38,000. TCI Wealth Advisors Inc. lifted its holdings in Fifth Third Bancorp by 35.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 934 shares of the financial services provider’s stock worth $40,000 after buying an additional 245 shares during the last quarter. Finally, Reilly Financial Advisors LLC lifted its holdings in Fifth Third Bancorp by 166.3% during the 4th quarter. Reilly Financial Advisors LLC now owns 1,092 shares of the financial services provider’s stock worth $48,000 after buying an additional 682 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

In other Fifth Third Bancorp news, EVP Howard Hammond sold 2,500 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $47.63, for a total value of $119,075.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Greg D. Carmichael sold 67,687 shares of the business’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $49.21, for a total transaction of $3,330,877.27. The disclosure for this sale can be found here. Insiders have sold 74,745 shares of company stock worth $3,669,055 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on FITB. Barclays increased their price target on Fifth Third Bancorp from $51.00 to $53.00 in a research report on Monday, January 3rd. StockNews.com assumed coverage on Fifth Third Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. UBS Group assumed coverage on Fifth Third Bancorp in a research report on Wednesday, January 12th. They issued a “buy” rating and a $56.00 target price on the stock. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Friday, January 28th. Finally, JPMorgan Chase & Co. raised their target price on Fifth Third Bancorp from $48.00 to $48.50 in a research report on Thursday, February 3rd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.96.

Shares of Fifth Third Bancorp stock traded up $1.59 on Tuesday, reaching $40.66. 362,867 shares of the company were exchanged, compared to its average volume of 6,467,530. The stock has a fifty day moving average price of $44.97 and a 200-day moving average price of $44.83. The firm has a market capitalization of $27.80 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.29. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a fifty-two week low of $34.35 and a fifty-two week high of $50.64.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last announced its earnings results on Tuesday, April 19th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Fifth Third Bancorp had a return on equity of 13.55% and a net margin of 33.25%. During the same period last year, the business earned $0.93 EPS. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.95%. Fifth Third Bancorp’s dividend payout ratio is 32.09%.

Fifth Third Bancorp Company Profile (Get Rating)

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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