Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,998 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $662,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Fifth Third Bancorp during the fourth quarter worth $185,924,000. BlackRock Inc. lifted its stake in Fifth Third Bancorp by 6.2% in the first quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock valued at $1,565,617,000 after buying an additional 3,448,642 shares during the last quarter. Boston Partners lifted its stake in Fifth Third Bancorp by 32.1% in the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after buying an additional 3,176,903 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Fifth Third Bancorp in the first quarter valued at $73,081,000. Finally, Morgan Stanley lifted its stake in Fifth Third Bancorp by 18.8% in the fourth quarter. Morgan Stanley now owns 11,944,073 shares of the financial services provider’s stock valued at $391,885,000 after buying an additional 1,891,388 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the topic of a number of recent research reports. Evercore ISI raised their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Morgan Stanley raised their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, UBS Group reissued a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.63.

Fifth Third Bancorp Trading Down 1.5 %

Shares of NASDAQ:FITB traded down $0.51 during midday trading on Tuesday, reaching $34.11. The company had a trading volume of 3,304,153 shares, compared to its average volume of 5,343,754. The company has a fifty day simple moving average of $35.12 and a two-hundred day simple moving average of $31.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The firm has a market cap of $23.24 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business earned $1.04 EPS. Research analysts predict that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 43.34%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.