Capital Advisors Inc. OK Has $23.31 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Capital Advisors Inc. OK lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 5.1% in the second quarter, Holdings Channel reports. The institutional investor owned 693,664 shares of the financial services provider’s stock after acquiring an additional 33,807 shares during the period. Capital Advisors Inc. OK’s holdings in Fifth Third Bancorp were worth $23,307,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors lifted its holdings in shares of Fifth Third Bancorp by 60.1% during the 1st quarter. Capital World Investors now owns 40,466,760 shares of the financial services provider’s stock worth $1,741,689,000 after acquiring an additional 15,195,534 shares during the period. Norges Bank bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $251,003,000. Millennium Management LLC grew its holdings in Fifth Third Bancorp by 5,766.7% during the 4th quarter. Millennium Management LLC now owns 1,913,415 shares of the financial services provider’s stock worth $83,329,000 after acquiring an additional 1,880,800 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Fifth Third Bancorp in the first quarter valued at $37,018,000. Finally, Panagora Asset Management Inc. increased its position in Fifth Third Bancorp by 4,025.2% during the 1st quarter. Panagora Asset Management Inc. now owns 861,992 shares of the financial services provider’s stock valued at $37,100,000 after purchasing an additional 841,096 shares during the period. Institutional investors own 81.33% of the company’s stock.

Analysts Set New Price Targets

FITB has been the subject of several recent analyst reports. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Friday, June 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Fifth Third Bancorp from $46.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, September 12th. Wolfe Research cut their price target on Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating for the company in a research note on Thursday, May 26th. Citigroup reduced their price objective on shares of Fifth Third Bancorp from $44.00 to $37.00 in a research note on Tuesday, July 12th. Finally, Jefferies Financial Group lowered their price target on shares of Fifth Third Bancorp from $47.00 to $39.00 in a report on Monday, July 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.47.

Insider Activity

In other news, Director Mitchell Feiger sold 8,734 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $35.20, for a total transaction of $307,436.80. Following the completion of the transaction, the director now owns 11,030 shares in the company, valued at $388,256. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.67% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock traded down $0.44 during trading hours on Friday, reaching $32.77. 294,244 shares of the company traded hands, compared to its average volume of 3,747,295. The firm has a 50-day moving average price of $34.91 and a 200 day moving average price of $37.42. The company has a market cap of $22.49 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.17 and a beta of 1.25. Fifth Third Bancorp has a 12-month low of $31.80 and a 12-month high of $50.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.75.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.11). Fifth Third Bancorp had a net margin of 29.09% and a return on equity of 12.99%. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.54 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.03%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, September 29th. Fifth Third Bancorp’s dividend payout ratio is presently 36.25%.

Fifth Third Bancorp Profile

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Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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