Graypoint LLC Increases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Graypoint LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,534 shares of the financial services provider’s stock after acquiring an additional 275 shares during the quarter. Graypoint LLC’s holdings in Fifth Third Bancorp were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after buying an additional 732,651 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $28,490,000. Millennium Management LLC grew its stake in shares of Fifth Third Bancorp by 896.7% in the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after acquiring an additional 583,781 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after purchasing an additional 575,449 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after purchasing an additional 409,292 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB stock opened at $41.12 on Friday. The company has a market capitalization of $27.57 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company’s fifty day moving average price is $45.19 and its 200-day moving average price is $42.61. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 49.17%.

Analyst Ratings Changes

FITB has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Barclays increased their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.92.

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.