Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 301,000 Fifth Third Bancorp (NASDAQ:FITB)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 301,000 shares of the financial services provider’s stock, valued at approximately $12,895,000.

Other hedge funds also recently modified their holdings of the company. Park National Corp OH boosted its stake in shares of Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 5,411 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the last quarter. M&G Plc acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $1,254,000. BDF Gestion acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $3,837,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Fifth Third Bancorp by 13.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after purchasing an additional 55,081 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 transaction 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. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FITB shares. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Citigroup raised their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.62.

Fifth Third Bancorp Trading Down 0.2 %

FITB opened at $48.16 on Friday. The firm has a market capitalization of $32.29 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.32 and a beta of 1.21. The firm’s 50 day moving average is $44.61 and its 200-day moving average is $40.97. Fifth Third Bancorp has a 52-week low of $26.89 and a 52-week high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

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

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is 49.17%.

Fifth Third Bancorp 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.