USA Financial Formulas Sells 1,627 Shares of Fifth Third Bancorp (NASDAQ:FITB)

USA Financial Formulas lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,256 shares of the financial services provider’s stock after selling 1,627 shares during the quarter. Fifth Third Bancorp comprises approximately 0.2% of USA Financial Formulas’ portfolio, making the stock its 23rd biggest holding. USA Financial Formulas’ holdings in Fifth Third Bancorp were worth $1,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. OneDigital Investment Advisors LLC raised its holdings in Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 222 shares during the period. Transamerica Financial Advisors Inc. increased its holdings in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares during the period. Quent Capital LLC boosted its stake in Fifth Third Bancorp by 9.9% during the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after buying an additional 248 shares during the period. Diversified Trust Co grew its holdings in shares of Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 259 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in Fifth Third Bancorp by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after buying an additional 260 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FITB. Evercore ISI lifted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler boosted their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.92.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $44.00 on Thursday. The stock’s fifty day moving average is $45.17 and its 200 day moving average is $42.75. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $29.50 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.36%. Fifth Third Bancorp’s payout ratio is 49.17%.

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.