WINTON GROUP Ltd Makes New $345,000 Investment in Fifth Third Bancorp (NASDAQ:FITB)

WINTON GROUP Ltd bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,461 shares of the financial services provider’s stock, valued at approximately $345,000.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors grew its stake in shares of Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after buying an additional 10,472,392 shares during the last quarter. Norges Bank purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $257,189,000. KBC Group NV lifted 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 buying an additional 1,492,124 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Fifth Third Bancorp in the second quarter worth about $33,337,000. Finally, Vanguard Group Inc. increased its stake in shares of Fifth Third Bancorp by 0.8% during the fourth 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 in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.3 %

Shares of Fifth Third Bancorp stock opened at $42.62 on Thursday. The company has a market cap of $29.15 billion, a P/E ratio of 13.53, a PEG ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $43.37. The firm has a fifty day moving average of $40.97 and a two-hundred day moving average of $38.05.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business posted $0.87 earnings per share. On average, analysts forecast 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 dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.47%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp 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 completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock worth $2,269,920 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FITB. Evercore ISI reduced their price target on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Argus lifted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group lifted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Stephens reiterated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average price target of $41.16.

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.