American Century Companies Inc. Sells 2,927 Shares of Fifth Third Bancorp (NASDAQ:FITB)

American Century Companies Inc. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 703,784 shares of the financial services provider’s stock after selling 2,927 shares during the quarter. American Century Companies Inc. owned about 0.10% of Fifth Third Bancorp worth $25,681,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in shares of Fifth Third Bancorp by 3.8% during the 4th quarter. Gilbert & Cook Inc. now owns 19,698 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 729 shares during the period. Aveo Capital Partners LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $206,000. 9258 Wealth Management LLC grew its stake in Fifth Third Bancorp by 4.6% during the fourth quarter. 9258 Wealth Management LLC now owns 14,019 shares of the financial services provider’s stock worth $484,000 after buying an additional 620 shares in the last quarter. Panagora Asset Management Inc. bought a new position in Fifth Third Bancorp in the 4th quarter valued at about $200,000. Finally, Independent Advisor Alliance bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $264,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.3 %

Shares of NASDAQ:FITB opened at $42.62 on Thursday. The firm has a market cap of $29.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.93 and a beta of 1.22. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $43.37. The business has a fifty day simple moving average of $40.97 and a 200 day simple moving average of $38.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period in the prior year, the firm earned $0.87 earnings per share. Analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Evercore ISI lowered their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Argus raised their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America boosted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group raised their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $41.16.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Kevin P. Lavender sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock worth $2,269,920 over the last three months. 0.50% of the stock is owned by company insiders.

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.