North Star Investment Management Corp. Cuts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

North Star Investment Management Corp. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 127,443 shares of the financial services provider’s stock after selling 544 shares during the quarter. North Star Investment Management Corp.’s holdings in Fifth Third Bancorp were worth $4,181,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wagner Wealth Management LLC purchased a new position in Fifth Third Bancorp during the second quarter valued at approximately $27,000. CI Investments Inc. grew its holdings in Fifth Third Bancorp by 1,002.4% in the third quarter. CI Investments Inc. now owns 915 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 832 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Fifth Third Bancorp by 324.1% in the third quarter. Hexagon Capital Partners LLC now owns 933 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 713 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Fifth Third Bancorp by 226.0% in the third quarter. EverSource Wealth Advisors LLC now owns 939 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 651 shares during the last quarter. Finally, Guardian Wealth Advisors LLC purchased a new position in Fifth Third Bancorp in the third quarter worth $30,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gary R. Heminger acquired 33,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $26.82 per share, for a total transaction of $885,060.00. Following the completion of the transaction, the director now owns 127,043 shares in the company, valued at approximately $3,407,293.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Gary R. Heminger acquired 33,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $26.82 per share, for a total transaction of $885,060.00. Following the completion of the transaction, the director now owns 127,043 shares in the company, valued at approximately $3,407,293.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Howard Hammond sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $37.52, for a total transaction of $75,040.00. Following the completion of the transaction, the executive vice president now owns 50,686 shares of the company’s stock, valued at approximately $1,901,738.72. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Fifth Third Bancorp Trading Down 5.7 %

NASDAQ FITB opened at $24.95 on Friday. The company has a market capitalization of $16.99 billion, a PE ratio of 7.43, a P/E/G ratio of 0.85 and a beta of 1.21. The company has a fifty day moving average of $34.70 and a 200 day moving average of $34.29. Fifth Third Bancorp has a 1 year low of $22.11 and a 1 year high of $48.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.77.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last posted its earnings results on Thursday, January 19th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a net margin of 26.15% and a return on equity of 15.48%. During the same period in the previous year, the firm posted $0.90 earnings per share. Research analysts forecast that Fifth Third Bancorp will post 3.76 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $0.33 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.29%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 39.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FITB shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Fifth Third Bancorp from $44.00 to $37.00 in a report on Friday, January 6th. Citigroup lifted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Piper Sandler cut their price target on shares of Fifth Third Bancorp from $43.00 to $40.00 in a report on Friday, March 10th. Morgan Stanley reissued an “equal weight” rating and set a $37.00 price objective on shares of Fifth Third Bancorp in a report on Monday, December 5th. Finally, DA Davidson started coverage on shares of Fifth Third Bancorp in a report on Tuesday, December 20th. They set a “neutral” rating and a $36.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

Fifth Third Bancorp Company Profile

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Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth and Asset Management.