Todd Asset Management LLC Has $34.78 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Todd Asset Management LLC decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,008,464 shares of the financial services provider’s stock after selling 9,401 shares during the quarter. Todd Asset Management LLC’s holdings in Fifth Third Bancorp were worth $34,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock valued at $294,000 after buying an additional 300 shares during the period. Independence Bank of Kentucky increased its position in shares of Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 355 shares during the period. Kingsview Wealth Management LLC raised its stake in Fifth Third Bancorp by 3.5% in the third quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 389 shares in the last quarter. Vicus Capital lifted its position in Fifth Third Bancorp by 4.1% during the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 397 shares during the period. Finally, Advisory Resource Group grew its stake in Fifth Third Bancorp by 0.4% during the fourth quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock worth $4,033,000 after buying an additional 435 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock worth $1,787,638 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on FITB shares. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $37.50 to $39.50 in a report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. DA Davidson boosted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Trading Up 1.8 %

Shares of Fifth Third Bancorp stock traded up $0.67 on Friday, hitting $37.56. 4,007,014 shares of the company’s stock traded hands, compared to its average volume of 4,768,773. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average of $35.88 and a two-hundred day moving average of $32.65. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.08 billion. During the same period last year, the company posted $0.78 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.73%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Fifth Third Bancorp 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.