Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Vest Financial LLC

Vest Financial LLC cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 71.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,852 shares of the financial services provider's stock after selling 583,472 shares during the period. Vest Financial LLC's holdings in Fifth Third Bancorp were worth $9,206,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Mather Group LLC. raised its holdings in shares of Fifth Third Bancorp by 13.8% in the fourth quarter. Mather Group LLC. now owns 4,576 shares of the financial services provider's stock valued at $193,000 after buying an additional 554 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Fifth Third Bancorp by 23.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 11,206 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 2,163 shares during the period. Y.D. More Investments Ltd raised its stake in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. Silver Oak Securities Incorporated acquired a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $253,000. Finally, Oakworth Capital Inc. grew its stake in shares of Fifth Third Bancorp by 8,341.7% in the 4th quarter. Oakworth Capital Inc. now owns 2,026 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 2,002 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 2.9%

Shares of FITB stock opened at $39.41 on Friday. The stock has a market cap of $26.31 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The business has a fifty day simple moving average of $36.65 and a 200-day simple moving average of $40.98.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its 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. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted $0.70 EPS. On average, analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is 46.98%.

Analysts Set New Price Targets

FITB has been the subject of several analyst reports. TD Cowen began coverage on Fifth Third Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $52.00 price target for the company. Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.00.

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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