Interval Partners LP Sells 447,123 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Interval Partners LP decreased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 79.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,117 shares of the financial services provider’s stock after selling 447,123 shares during the quarter. Interval Partners LP’s holdings in Fifth Third Bancorp were worth $4,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp in the 1st quarter valued at about $29,000. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $34,000. Centerpoint Advisors LLC raised its position in Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares in the last quarter. Family Firm Inc. acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $52,000. Finally, Mather Group LLC. acquired a new position in shares of Fifth Third Bancorp during the first quarter worth $56,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $42.84 on Tuesday. The company has a market cap of $29.30 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.93 and a beta of 1.22. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $43.85. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50-day moving average of $41.24 and a two-hundred day moving average of $38.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly 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 business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $0.87 EPS. As a group, analysts anticipate 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 given a $0.37 dividend. 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. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FITB. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Stephens reissued 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. Finally, Jefferies Financial Group increased their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price 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.