Brown Brothers Harriman & Co. Has $1.50 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Brown Brothers Harriman & Co. trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 18.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,107 shares of the financial services provider’s stock after selling 8,206 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Fifth Third Bancorp were worth $1,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Independent Advisor Alliance raised its stake in shares of Fifth Third Bancorp by 11.6% in the third quarter. Independent Advisor Alliance now owns 13,190 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 1,367 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Fifth Third Bancorp by 11.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 83,238 shares of the financial services provider’s stock worth $3,566,000 after purchasing an additional 8,613 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Fifth Third Bancorp by 11.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 11,459 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 1,179 shares during the last quarter. Cerity Partners LLC lifted its holdings in Fifth Third Bancorp by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 280,617 shares of the financial services provider’s stock worth $12,022,000 after buying an additional 5,899 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $1,100,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 1.1 %

Shares of NASDAQ:FITB opened at $48.44 on Tuesday. The company’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $40.80. Fifth Third Bancorp has a one year low of $26.89 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $32.48 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results 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 firm 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. On average, equities analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.06%. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FITB shares. Morgan Stanley upped their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. 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. Wells Fargo & Company lifted their price target 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. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Citigroup lifted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.62.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by company 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.