Voya Investment Management LLC Sells 43,994 Shares of Fifth Third Bancorp $FITB

Voya Investment Management LLC decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 23.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,345 shares of the financial services provider’s stock after selling 43,994 shares during the quarter. Voya Investment Management LLC’s holdings in Fifth Third Bancorp were worth $6,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Management Inc. bought a new position in shares of Fifth Third Bancorp in the second quarter valued at $26,000. Activest Wealth Management lifted its stake in Fifth Third Bancorp by 1,043.3% in the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 626 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Fifth Third Bancorp in the 1st quarter valued at about $27,000. GoalVest Advisory LLC increased its stake in shares of Fifth Third Bancorp by 246.3% during the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 532 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $32,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. UBS Group lifted their target price on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Argus boosted their target price on Fifth Third Bancorp from $46.00 to $49.00 in a report on Tuesday, October 7th. TD Cowen increased their price target on Fifth Third Bancorp from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, DA Davidson lifted their price objective on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.15.

Fifth Third Bancorp Price Performance

FITB stock opened at $48.24 on Thursday. The company’s 50-day moving average price is $43.84 and its two-hundred day moving average price is $43.32. The firm has a market cap of $31.89 billion, a P/E ratio of 14.40, a P/E/G ratio of 0.98 and a beta of 0.99. 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 12 month low of $32.25 and a 12 month high of $48.71.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The business had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. On average, analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.76%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Evan Bayh purchased 3,000 shares of the stock in a transaction dated Monday, October 20th. The stock was bought at an average price of $41.22 per share, with a total value of $123,660.00. Following the acquisition, the director owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.