Rhumbline Advisers Has $58 Million Stake in Fifth Third Bancorp $FITB

Rhumbline Advisers reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,301,879 shares of the financial services provider’s stock after selling 17,479 shares during the period. Rhumbline Advisers’ holdings in Fifth Third Bancorp were worth $57,999,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealthquest Corp lifted its stake in shares of Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after buying an additional 244 shares during the last quarter. Tiemann Investment Advisors LLC grew its stake in Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after buying an additional 250 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in Fifth Third Bancorp by 1.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after acquiring an additional 251 shares during the period. CENTRAL TRUST Co lifted its position in Fifth Third Bancorp by 4.1% during the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 260 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp 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 transaction of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares in the company, valued at $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $52.86 on Friday. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.08 and a beta of 0.99. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $55.44. The business has a fifty day simple moving average of $49.66 and a 200 day simple moving average of $45.59. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68.

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 for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The firm had revenue of $3.82 billion for the quarter. Sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FITB. Truist Financial lifted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Evercore upped their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Stephens raised their price objective on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Finally, Robert W. Baird boosted their target price on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.58.

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.