Stock Yards Bank & Trust Co. Reduces Stake in Fifth Third Bancorp (NASDAQ:FITB)

Stock Yards Bank & Trust Co. decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 19.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,362 shares of the financial services provider’s stock after selling 2,552 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Fifth Third Bancorp were worth $378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Fifth Third Bancorp during the 1st quarter worth approximately $29,000. American Capital Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $34,000. Centerpoint Advisors LLC raised its stake in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares in the last quarter. Family Firm Inc. purchased a new stake in Fifth Third Bancorp in the second quarter valued at $52,000. Finally, Mather Group LLC. acquired a new position in Fifth Third Bancorp in the first quarter valued at $56,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the transaction, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock valued at $2,269,920 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of research analyst reports. Bank of America lifted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Argus increased their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Jefferies Financial Group raised their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley upped their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.56.

Fifth Third Bancorp Stock Up 0.3 %

Fifth Third Bancorp stock opened at $42.51 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $43.01. The company has a market cap of $29.08 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The stock’s 50 day moving average price is $40.85 and its 200 day moving average price is $38.02.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the business earned $0.87 EPS. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.48%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is presently 46.98%.

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.