First National Trust Co Sells 22,247 Shares of Fifth Third Bancorp $FITB

First National Trust Co decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 29.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,916 shares of the financial services provider’s stock after selling 22,247 shares during the period. First National Trust Co’s holdings in Fifth Third Bancorp were worth $2,402,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Fifth Third Bancorp by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock worth $3,448,743,000 after buying an additional 1,301,624 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 23,306,918 shares of the financial services provider’s stock valued at $958,614,000 after acquiring an additional 398,517 shares during the period. Invesco Ltd. grew its position in Fifth Third Bancorp by 16.6% in the second quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock valued at $850,473,000 after acquiring an additional 2,941,333 shares during the period. Geode Capital Management LLC raised its stake in Fifth Third Bancorp by 3.6% during the second quarter. Geode Capital Management LLC now owns 18,008,755 shares of the financial services provider’s stock worth $737,728,000 after acquiring an additional 619,956 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Fifth Third Bancorp during the second quarter valued at $357,440,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FITB shares. Jefferies Financial Group upped their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Truist Financial upped their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Stephens lifted their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Robert W. Baird increased their price target on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Finally, DA Davidson raised their price target on Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $56.58.

Fifth Third Bancorp Stock Up 0.3%

NASDAQ:FITB opened at $54.50 on Wednesday. The company has a market cap of $36.03 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.10 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s fifty day moving average price is $49.16 and its two-hundred day moving average price is $45.40. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $55.36.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The company had revenue of $3.82 billion during the quarter. On average, analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 45.20%.

Fifth Third Bancorp Company 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.