Cwm LLC Trims Stake in Fifth Third Bancorp (NASDAQ:FITB)

Cwm LLC trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 8.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,068 shares of the financial services provider’s stock after selling 2,332 shares during the period. Cwm LLC’s holdings in Fifth Third Bancorp were worth $933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FITB. Capital World Investors increased its stake in Fifth Third Bancorp by 34.2% in the 4th quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after buying an additional 10,472,392 shares in the last quarter. Norges Bank purchased a new stake in Fifth Third Bancorp in the 4th quarter worth $257,189,000. Smead Capital Management Inc. purchased a new stake in Fifth Third Bancorp in the 4th quarter worth $67,354,000. Boston Partners increased its stake in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV increased its stake in Fifth Third Bancorp by 341.8% in the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after buying an additional 1,492,124 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Down 0.2 %

FITB opened at $35.92 on Friday. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $39.14. The stock has a 50-day moving average of $36.74 and a 200 day moving average of $35.31. The firm has a market cap of $24.57 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.49 and a beta of 1.24. 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 announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. As a group, research analysts forecast that Fifth Third Bancorp will post 3.26 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.90%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The disclosure for this sale can be found here. Insiders sold 22,357 shares of company stock worth $816,148 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FITB. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. UBS Group reissued a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.21.

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.