Fifth Third Bancorp (NASDAQ:FITB) Stock Position Decreased by Carret Asset Management LLC

Carret Asset Management LLC lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,278 shares of the financial services provider’s stock after selling 1,483 shares during the period. Carret Asset Management LLC’s holdings in Fifth Third Bancorp were worth $1,941,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC grew its position in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $36,000. Financial Management Professionals Inc. grew its position in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. Friedenthal Financial bought a new position in Fifth Third Bancorp in the 4th quarter worth about $48,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Fifth Third Bancorp by 83.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 695 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB stock traded up $0.17 on Wednesday, hitting $37.23. 3,633,205 shares of the company’s stock traded hands, compared to its average volume of 5,470,098. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The stock has a market cap of $25.36 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.38 and a beta of 1.27. The stock has a fifty day moving average of $35.35 and a 200-day moving average of $32.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

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, beating the consensus estimate 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 business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the business earned $0.78 earnings per share. On average, analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

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

Insider Activity

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’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 value of $540,497.66. Following the transaction, 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 can be accessed through this link. In related news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold 46,357 shares of company stock worth $1,693,888 over the last 90 days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a research report on Monday. Robert W. Baird restated a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. UBS Group reaffirmed a “neutral” rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.31.

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.