Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,043 shares of the financial services provider’s stock after selling 6,834 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Fifth Third Bancorp were worth $3,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FITB. Capital World Investors raised its position in Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after acquiring an additional 10,472,392 shares in the last quarter. KBC Group NV boosted its holdings in Fifth Third Bancorp by 341.8% during 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 in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $33,337,000. Vanguard Group Inc. lifted its position in Fifth Third Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after buying an additional 734,403 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at $25,641,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $43.24 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $41.17 and a 200 day simple moving average of $38.14. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $43.85. The stock has a market capitalization of $29.58 billion, a PE ratio of 13.73, a P/E/G ratio of 1.93 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data 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 return on equity of 15.79% and a net margin of 17.41%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the business earned $0.87 EPS. On average, research analysts expect that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. 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. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FITB shares. Bank of America lifted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Stephens reiterated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Finally, Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $41.16.

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.