Vanguard Personalized Indexing Management LLC Has $2.52 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Vanguard Personalized Indexing Management LLC raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 33.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,068 shares of the financial services provider’s stock after buying an additional 18,293 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fifth Third Bancorp were worth $2,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Fifth Third Bancorp by 8.4% during the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after purchasing an additional 1,500,653 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after buying an additional 393,937 shares in the last quarter. Boston Partners grew its position in shares of Fifth Third Bancorp by 11.5% during the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Fifth Third Bancorp by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock valued at $318,979,000 after acquiring an additional 393,489 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Fifth Third Bancorp by 3.9% during the 3rd quarter. Northern Trust Corp now owns 6,774,568 shares of the financial services provider’s stock valued at $171,600,000 after acquiring an additional 253,405 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock traded down $0.21 during trading on Thursday, hitting $38.77. The company’s stock had a trading volume of 697,798 shares, compared to its average volume of 5,111,917. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market cap of $26.52 billion, a PE ratio of 12.30, a P/E/G ratio of 1.44 and a beta of 1.24. The business has a fifty day moving average of $36.48 and a 200-day moving average of $33.53. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion during 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 period last year, the firm posted $0.78 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.22 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the company’s 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 owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction 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 sale, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock worth $1,787,638 in the last quarter. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. UBS Group reiterated a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Evercore ISI boosted their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $36.50.

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.