Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Keeler Thomas Management LLC

Key Points

• Keeler Thomas Management LLC reduced its stake in Fifth Third Bancorp by 27.0%, selling 15,461 shares, and its holdings are now valued at approximately $1.6 million.
• Several institutional investors have increased their positions in Fifth Third Bancorp, with 83.79% of the company's stock now owned by institutional investors and hedge funds.
• Fifth Third Bancorp recently announced a quarterly dividend of $0.37 per share and initiated a share repurchase program authorizing the buyback of up to 100 million shares.

Keeler Thomas Management LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 27.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,775 shares of the financial services provider's stock after selling 15,461 shares during the period. Keeler Thomas Management LLC's holdings in Fifth Third Bancorp were worth $1,638,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. HWG Holdings LP acquired a new stake in shares of Fifth Third Bancorp in the first quarter valued at $27,000. Quarry LP acquired a new position in Fifth Third Bancorp during the 4th quarter worth about $29,000. Larson Financial Group LLC boosted its holdings in Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 357 shares during the period. REAP Financial Group LLC grew its position in Fifth Third Bancorp by 161.8% in the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 487 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in Fifth Third Bancorp by 60.7% during the first quarter. Grove Bank & Trust now owns 887 shares of the financial services provider's stock worth $35,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FITB. Jefferies Financial Group began coverage on shares of Fifth Third Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $47.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Tuesday, June 10th. TD Cowen started coverage on shares of Fifth Third Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $52.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Finally, Barclays lowered their target price on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $47.80.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $41.25 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The stock has a market cap of $27.53 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91. The firm has a fifty day moving average price of $41.14 and a 200 day moving average price of $40.05.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. Fifth Third Bancorp's dividend payout ratio is 45.96%.

Fifth Third Bancorp declared that its board has initiated a share repurchase program on Monday, June 16th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

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.

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