UMB Bank n.a. Decreases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

UMB Bank n.a. decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,532 shares of the financial services provider’s stock after selling 3,027 shares during the quarter. UMB Bank n.a.’s holdings in Fifth Third Bancorp were worth $4,157,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FITB. GoalVest Advisory LLC lifted its stake in Fifth Third Bancorp by 145.5% in 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 in the last quarter. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $36,000. Financial Management Professionals Inc. lifted its stake 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 valued at $38,000 after buying an additional 1,000 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $38,000. Finally, Covestor Ltd lifted its stake in Fifth Third Bancorp by 43.9% in the 1st quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock valued at $52,000 after buying an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 2.0 %

NASDAQ FITB opened at $35.98 on Wednesday. The firm’s 50 day moving average price is $34.93 and its two-hundred day moving average price is $30.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.41. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.89%. Fifth Third Bancorp’s payout ratio is currently 43.34%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The stock was 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 $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FITB. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Fifth Third Bancorp in a research note on Monday. Keefe, Bruyette & Woods downgraded Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. Evercore ISI boosted their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 18th. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.50.

Check Out Our Latest Report on Fifth Third Bancorp

About Fifth Third Bancorp

(Free Report)

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.

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

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