OLD National Bancorp IN Sells 7,997 Shares of Fifth Third Bancorp (NASDAQ:FITB)

OLD National Bancorp IN lowered its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,761 shares of the financial services provider’s stock after selling 7,997 shares during the period. OLD National Bancorp IN’s holdings in Fifth Third Bancorp were worth $1,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FITB. GoalVest Advisory LLC grew its stake in Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares in the last quarter. Denali Advisors LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $36,000. Financial Management Professionals Inc. grew its stake in Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new position in Fifth Third Bancorp during the third quarter valued at approximately $46,000. Finally, Friedenthal Financial purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $37.06 on Wednesday. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The company has a fifty day moving average of $35.35 and a 200-day moving average of $32.07. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction on 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 directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock worth $1,693,888 in the last three months. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FITB shares. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Stephens reissued an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Barclays boosted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.31.

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.