Woodmont Investment Counsel LLC Sells 897 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Woodmont Investment Counsel LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 11.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,627 shares of the financial services provider’s stock after selling 897 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Fifth Third Bancorp were worth $247,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock valued at $3,012,472,000 after purchasing an additional 734,403 shares during the period. Capital World Investors grew its stake in shares of Fifth Third Bancorp by 34.2% during the 4th quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after purchasing an additional 10,472,392 shares during the period. Boston Partners grew its stake in shares of Fifth Third Bancorp by 11.5% during the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after purchasing an additional 1,499,194 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Fifth Third Bancorp by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock valued at $318,979,000 after purchasing an additional 393,489 shares during the period. Finally, Norges Bank bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $257,189,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. DA Davidson boosted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Friday, May 31st. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.26.

Fifth Third Bancorp Stock Up 2.0 %

Shares of FITB opened at $36.98 on Wednesday. The stock has a market capitalization of $25.30 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $39.14. The business’s 50 day simple moving average is $36.91 and its 200-day simple moving average is $35.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period in the prior year, the firm earned $0.78 EPS. As a group, equities analysts expect that Fifth Third Bancorp will post 3.28 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Activity

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

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.