Northwestern Mutual Wealth Management Co. Has $1.69 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Northwestern Mutual Wealth Management Co. reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,319 shares of the financial services provider’s stock after selling 1,168 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Fifth Third Bancorp were worth $1,690,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Fifth Third Bancorp by 0.8% in 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 buying an additional 734,403 shares during the period. Capital World Investors lifted its position in shares of Fifth Third Bancorp by 13.4% during 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 acquiring an additional 5,512,333 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after acquiring an additional 281,494 shares during the period. LSV Asset Management boosted its stake 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 acquiring an additional 99,593 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Fifth Third Bancorp by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock worth $62,096,000 after purchasing an additional 56,298 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 0.9 %

Fifth Third Bancorp stock opened at $42.10 on Friday. 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 stock has a market cap of $28.80 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $43.85. The firm’s 50-day simple moving average is $41.48 and its 200 day simple moving average is $38.60.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results 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 in the prior year, the company earned $0.87 earnings per share. Research analysts predict 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. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.52%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 46.98%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FITB shares. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Jefferies Financial Group raised their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Argus upped their target price 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. Finally, Bank of America lifted their price target 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $41.78.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $5,376,880. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,500 shares of company stock valued at $2,269,920. 0.50% of the stock is owned by insiders.

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.