USA Financial Formulas Sells 25,541 Shares of Fifth Third Bancorp (NASDAQ:FITB)

USA Financial Formulas trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 81.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,715 shares of the financial services provider's stock after selling 25,541 shares during the period. USA Financial Formulas' holdings in Fifth Third Bancorp were worth $224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp during the 4th quarter worth $28,000. Quarry LP purchased a new position in Fifth Third Bancorp during the 4th quarter worth $29,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp during the 4th quarter worth $29,000. Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the 4th quarter worth $33,000. Finally, REAP Financial Group LLC increased its holdings in Fifth Third Bancorp by 161.8% during the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after purchasing an additional 487 shares during the period. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Down 2.6%

Shares of Fifth Third Bancorp stock traded down $1.00 during trading on Friday, reaching $37.98. 3,076,942 shares of the company traded hands, compared to its average volume of 4,482,224. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a 50 day moving average price of $37.03 and a 200-day moving average price of $40.68. The firm has a market capitalization of $25.35 billion, a PE ratio of 12.10, a P/E/G ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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 paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Monday, June 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FITB shares. Barclays reduced their price objective on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Morgan Stanley cut their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group began coverage on Fifth Third Bancorp in a report on Wednesday, May 21st. They issued a "buy" rating and a $47.00 price target on the stock. Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Citigroup dropped their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.53.

About Fifth Third Bancorp

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.