North Star Investment Management Corp. Sells 1,526 Shares of Fifth Third Bancorp (NASDAQ:FITB)

North Star Investment Management Corp. cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,524 shares of the financial services provider’s stock after selling 1,526 shares during the period. North Star Investment Management Corp.’s holdings in Fifth Third Bancorp were worth $5,120,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FITB. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $34,000. Hexagon Capital Partners LLC grew its stake in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at approximately $52,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at approximately $53,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Fifth Third Bancorp by 1,787.3% during the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,269 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 0.9 %

Shares of Fifth Third Bancorp stock traded up $0.40 on Tuesday, reaching $43.23. The company had a trading volume of 409,875 shares, compared to its average volume of 4,595,788. The firm’s 50-day moving average price is $42.82 and its two-hundred day moving average price is $39.80. The firm has a market cap of $29.26 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 2.07 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1 year low of $24.64 and a 1 year high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results 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). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Argus increased their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Morgan Stanley increased their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Barclays lifted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.28.

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.