Raymond James Trust N.A. Sells 810 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Raymond James Trust N.A. lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,162 shares of the financial services provider’s stock after selling 810 shares during the quarter. Raymond James Trust N.A.’s holdings in Fifth Third Bancorp were worth $1,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FITB. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Fifth Third Bancorp during the third quarter worth about $39,000. American Capital Advisory LLC bought a new position in shares of Fifth Third Bancorp during the second quarter worth about $34,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at approximately $53,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on FITB shares. Morgan Stanley upped their price target on 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. Barclays increased their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Citigroup raised their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $43.62.

Insider Activity

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Up 1.7 %

FITB opened at $47.90 on Friday. The stock’s fifty day simple moving average is $44.17 and its 200 day simple moving average is $40.71. Fifth Third Bancorp has a 1-year low of $26.89 and a 1-year high of $48.10. The stock has a market cap of $32.12 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, research analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is currently 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.