Vanguard Personalized Indexing Management LLC Acquires 7,932 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,578 shares of the financial services provider’s stock after buying an additional 7,932 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Fifth Third Bancorp were worth $3,059,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in 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 during the last quarter. Capital World Investors boosted its holdings in shares of Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after buying an additional 5,512,333 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fifth Third Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after buying an additional 281,494 shares in the last quarter. LSV Asset Management increased its holdings in Fifth Third Bancorp by 2.3% during the first quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after buying an additional 99,593 shares during the last quarter. Finally, KBC Group NV raised its position 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 acquiring an additional 1,492,124 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was 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 in the company, valued at approximately $863,802.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The disclosure for this sale can be found here. Insiders have sold a total of 54,500 shares of company stock worth $2,269,920 over the last 90 days. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB stock opened at $43.64 on Friday. The company’s 50-day moving average price is $41.08 and its two-hundred day moving average price is $38.09. The firm has a market cap of $29.85 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $43.85.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data 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). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FITB. Bank of America lifted their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Argus upped their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their target price on Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Evercore ISI dropped their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $41.16.

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.