Richardson Financial Services Inc. Has $281,000 Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Richardson Financial Services Inc. decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,706 shares of the financial services provider’s stock after selling 945 shares during the period. Richardson Financial Services Inc.’s holdings in Fifth Third Bancorp were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FITB. Morningstar Investment Management LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at $2,257,000. Bank of Nova Scotia lifted its holdings in shares of Fifth Third Bancorp by 31.6% during the 4th quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock valued at $3,056,000 after buying an additional 21,251 shares during the last quarter. Park National Corp OH lifted its holdings in shares of Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 5,411 shares during the last quarter. rhino investment partners Inc grew its stake in shares of Fifth Third Bancorp by 20.1% in the 4th quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock valued at $44,891,000 after buying an additional 217,956 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Fifth Third Bancorp by 8.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock worth $10,043,000 after buying an additional 21,612 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.3 %

Shares of FITB stock opened at $42.62 on Thursday. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $43.37. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $29.15 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The stock has a 50 day moving average of $40.97 and a 200-day moving average of $38.05.

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

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Argus lifted their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI lowered their target price on shares of 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. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $41.16.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. The disclosure for this sale can be found here. Insiders have sold a total of 54,500 shares of company stock valued at $2,269,920 over the last three months. 0.50% of the stock is owned by corporate insiders.

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.