Fragasso Financial Advisors Inc Sells 59,442 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Fragasso Financial Advisors Inc cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 68.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,007 shares of the financial services provider's stock after selling 59,442 shares during the quarter. Fragasso Financial Advisors Inc's holdings in Fifth Third Bancorp were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Czech National Bank boosted its holdings in Fifth Third Bancorp by 5.8% in the first quarter. Czech National Bank now owns 153,855 shares of the financial services provider's stock worth $6,031,000 after acquiring an additional 8,468 shares in the last quarter. Rhumbline Advisers increased its position in Fifth Third Bancorp by 7.7% in the first quarter. Rhumbline Advisers now owns 1,400,065 shares of the financial services provider's stock worth $54,882,000 after buying an additional 99,901 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in Fifth Third Bancorp by 15.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 7,641 shares of the financial services provider's stock worth $300,000 after buying an additional 999 shares in the last quarter. New Hampshire Trust boosted its stake in shares of Fifth Third Bancorp by 7.4% in the first quarter. New Hampshire Trust now owns 9,615 shares of the financial services provider's stock worth $377,000 after acquiring an additional 665 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Fifth Third Bancorp by 4,271.4% in the first quarter. GAMMA Investing LLC now owns 1,203,362 shares of the financial services provider's stock worth $47,172,000 after acquiring an additional 1,175,834 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Down 0.2%

Shares of NASDAQ FITB traded down $0.09 during midday trading on Thursday, hitting $38.36. The company's stock had a trading volume of 3,191,227 shares, compared to its average volume of 4,499,915. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The business's 50 day moving average is $36.66 and its two-hundred day moving average is $41.08. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The firm has a market cap of $25.60 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90.

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

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.86%. Fifth Third Bancorp's payout ratio is currently 46.98%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FITB shares. Citigroup dropped their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. dropped their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Cowen started coverage on Fifth Third Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Baird R W raised Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Morgan Stanley dropped their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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.