Everence Capital Management Inc. Acquires 10,570 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Everence Capital Management Inc. increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 54.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,060 shares of the financial services provider’s stock after acquiring an additional 10,570 shares during the period. Everence Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $1,037,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. GoalVest Advisory LLC boosted its position in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp in the 4th quarter valued at $36,000. Clear Street Markets LLC boosted its position in Fifth Third Bancorp by 93.4% in the 1st quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after buying an additional 647 shares during the last quarter. Financial Management Professionals Inc. boosted its position in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in Fifth Third Bancorp in the 4th quarter valued at $38,000. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $34.09 on Wednesday. The company has a market capitalization of $23.22 billion, a PE ratio of 10.55, a PEG ratio of 1.31 and a beta of 1.27. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The stock’s fifty day simple moving average is $35.13 and its 200 day simple moving average is $31.66.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.77 by $0.22. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter last year, the business posted $1.04 EPS. On average, research analysts predict that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is 43.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FITB. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. UBS Group reissued a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Barclays increased their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $35.63.

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.