XTX Topco Ltd Sells 3,984 Shares of Fifth Third Bancorp (NASDAQ:FITB)

XTX Topco Ltd lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 18.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,359 shares of the financial services provider’s stock after selling 3,984 shares during the quarter. XTX Topco Ltd’s holdings in Fifth Third Bancorp were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Fifth Third Bancorp in the first quarter worth about $29,000. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp in the 2nd quarter worth approximately $34,000. Centerpoint Advisors LLC lifted its position in Fifth Third Bancorp by 125.0% in 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 during the last quarter. Family Firm Inc. purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $52,000. Finally, Mather Group LLC. bought a new position in shares of Fifth Third Bancorp in the first quarter worth approximately $56,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

FITB stock opened at $42.84 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average price of $41.24 and a 200-day moving average price of $38.22. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.85. The firm has a market capitalization of $29.30 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.93 and a beta of 1.22.

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 during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.87 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued 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 yield of 3.45%. Fifth Third Bancorp’s payout ratio is 46.98%.

Insider Transactions at Fifth Third Bancorp

In related news, 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 approximately $5,376,880. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was 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 directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,500 shares of company stock worth $2,269,920. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent analyst reports. Evercore ISI lowered 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 report on Tuesday, June 25th. Stephens reissued an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Jefferies Financial Group upped their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Bank of America upped their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.