Campbell & CO Investment Adviser LLC Trims Stock Position in Fifth Third Bancorp $FITB

Campbell & CO Investment Adviser LLC decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 77.0% in the second quarter, Holdings Channel reports. The firm owned 21,301 shares of the financial services provider’s stock after selling 71,314 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Fifth Third Bancorp were worth $876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in Fifth Third Bancorp during the 1st quarter worth $27,000. Activest Wealth Management grew its position in shares of Fifth Third Bancorp by 1,043.3% during the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after buying an additional 626 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Fifth Third Bancorp by 91.3% during the first quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after buying an additional 357 shares during the period. GoalVest Advisory LLC increased its stake in shares of Fifth Third Bancorp by 246.3% during the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after buying an additional 532 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $32,000. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the topic of several recent research reports. Cowen reiterated a “buy” rating on shares of Fifth Third Bancorp in a report on Monday, October 20th. TD Cowen upped their price target on shares of Fifth Third Bancorp from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Argus lifted their price objective on shares of Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 7th. Finally, Citigroup increased their target price on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.35.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $42.44 on Friday. The company has a 50 day moving average of $43.60 and a two-hundred day moving average of $41.84. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The company has a market cap of $28.05 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.8%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.76%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, Director Evan Bayh purchased 3,000 shares of the stock in a transaction on Monday, October 20th. The stock was acquired at an average price of $41.22 per share, with a total value of $123,660.00. Following the completion of the acquisition, the director owned 84,942 shares in the company, valued at $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

About Fifth Third Bancorp

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.