Stock Yards Bank & Trust Co. Sells 923 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Stock Yards Bank & Trust Co. trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,872 shares of the financial services provider’s stock after selling 923 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Fifth Third Bancorp were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Boston Partners increased its stake in Fifth Third Bancorp by 32.1% during the 3rd quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after purchasing an additional 3,176,903 shares in the last quarter. Smead Capital Management Inc. acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $67,354,000. Invesco Ltd. increased its position in shares of Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after acquiring an additional 1,500,653 shares in the last quarter. Barclays PLC raised its holdings in shares of Fifth Third Bancorp by 66.0% during the third quarter. Barclays PLC now owns 2,307,073 shares of the financial services provider’s stock worth $58,437,000 after acquiring an additional 917,549 shares during the period. Finally, Kettle Hill Capital Management LLC bought a new stake in Fifth Third Bancorp in the 3rd quarter valued at $12,625,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 1.4 %

Shares of Fifth Third Bancorp stock opened at $37.06 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $35.35 and a 200-day moving average of $32.07. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The stock has a market cap of $25.25 billion, a PE ratio of 11.77, a PEG ratio of 1.38 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the company earned $0.78 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold 46,357 shares of company stock valued at $1,693,888 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FITB has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday. Barclays boosted their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.31.

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.