Czech National Bank Acquires 7,535 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Czech National Bank boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 137,886 shares of the financial services provider’s stock after purchasing an additional 7,535 shares during the quarter. Czech National Bank’s holdings in Fifth Third Bancorp were worth $5,907,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp in the first quarter worth approximately $29,000. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth approximately $34,000. Centerpoint Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares in the last quarter. Family Firm Inc. purchased a new stake in Fifth Third Bancorp during the 2nd quarter worth about $52,000. Finally, Blue Trust Inc. raised its position in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock worth $60,000 after buying an additional 914 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 0.9 %

Shares of NASDAQ FITB opened at $42.10 on Friday. The firm’s 50 day moving average price is $41.48 and its 200-day moving average price is $38.60. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.85. 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 company has a market cap of $28.80 billion, a PE ratio of 13.37, a P/E/G ratio of 2.03 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share (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 the consensus estimate 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 last year, the company posted $0.87 earnings per share. On average, equities research analysts expect that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.37 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.52%. Fifth Third Bancorp’s payout ratio is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,500 shares of company stock worth $2,269,920. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FITB. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Bank of America raised their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI boosted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.78.

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.