Gibson Capital LLC Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

Gibson Capital LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,738 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its holdings in Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after purchasing an additional 10,472,392 shares in the last quarter. Norges Bank purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $257,189,000. Smead Capital Management Inc. purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $67,354,000. Boston Partners boosted its stake in Fifth Third Bancorp by 11.5% during the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after acquiring an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV grew its holdings in Fifth Third Bancorp by 341.8% in the fourth quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after purchasing an additional 1,492,124 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock traded up $0.98 during mid-day trading on Friday, reaching $36.49. 8,438,665 shares of the stock traded hands, compared to its average volume of 4,171,095. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $39.14. The business’s 50-day moving average is $36.92 and its 200-day moving average is $35.57. 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 stock has a market capitalization of $24.96 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly 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. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.28 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of analyst reports. Evercore ISI dropped their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. DA Davidson raised their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Stephens reiterated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Finally, JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $37.50 to $39.50 in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.26.

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.