Crossmark Global Holdings Inc. Sells 18,205 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Crossmark Global Holdings Inc. lowered its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 29.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,196 shares of the financial services provider's stock after selling 18,205 shares during the period. Crossmark Global Holdings Inc.'s holdings in Fifth Third Bancorp were worth $1,732,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Meadow Creek Wealth Advisors LLC raised its position in shares of Fifth Third Bancorp by 3.0% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,451 shares of the financial services provider's stock worth $410,000 after acquiring an additional 300 shares in the last quarter. Oxford Financial Group LTD. LLC raised its position in shares of Fifth Third Bancorp by 3.1% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 10,341 shares of the financial services provider's stock worth $437,000 after acquiring an additional 313 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Fifth Third Bancorp by 2.3% in the 4th quarter. Gotham Asset Management LLC now owns 14,110 shares of the financial services provider's stock worth $597,000 after acquiring an additional 316 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Fifth Third Bancorp by 0.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 51,109 shares of the financial services provider's stock worth $2,161,000 after acquiring an additional 322 shares in the last quarter. Finally, Grove Bank & Trust raised its position in shares of Fifth Third Bancorp by 60.7% in the 1st quarter. Grove Bank & Trust now owns 887 shares of the financial services provider's stock worth $35,000 after acquiring an additional 335 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock traded down $0.01 during trading on Monday, reaching $43.75. The company had a trading volume of 5,115,282 shares, compared to its average volume of 4,580,977. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The firm's 50-day simple moving average is $39.61 and its 200 day simple moving average is $40.05. The firm has a market capitalization of $29.20 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.91. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 13.64% and a net margin of 17.65%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the firm earned $0.70 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.38%. Fifth Third Bancorp's dividend payout ratio is presently 46.98%.

Fifth Third Bancorp announced that its board has approved a share buyback plan on Monday, June 16th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on FITB. Citigroup reduced their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Cowen began coverage on Fifth Third Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Barclays reduced their price objective on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial reduced their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.53.

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.