Chevy Chase Trust Holdings LLC Has $14.06 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 377,716 shares of the financial services provider’s stock after selling 3,065 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Fifth Third Bancorp were worth $14,055,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in Fifth Third Bancorp during the 1st quarter worth $29,000. GoalVest Advisory LLC raised its holdings in Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares during the period. Denali Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $36,000. Financial Management Professionals Inc. lifted its position in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Fifth Third Bancorp during the 4th quarter worth about $48,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FITB shares. Stephens reissued an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. Jefferies Financial Group raised their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $38.15.

Fifth Third Bancorp Stock Performance

FITB traded up $0.51 on Wednesday, reaching $36.72. The company had a trading volume of 1,781,922 shares, compared to its average volume of 4,834,875. The company’s fifty day moving average is $36.86 and its 200 day moving average is $35.68. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $25.12 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.49 and a beta of 1.24. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the company earned $0.78 earnings per share. As a group, analysts predict that Fifth Third Bancorp will post 3.29 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Company Profile

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.