O Shaughnessy Asset Management LLC Purchases 15,838 Shares of Fifth Third Bancorp (NASDAQ:FITB)

O Shaughnessy Asset Management LLC grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 35.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,382 shares of the financial services provider’s stock after buying an additional 15,838 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Fifth Third Bancorp were worth $2,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its stake in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 300 shares during the last quarter. Lcnb Corp grew its stake in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after buying an additional 319 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Fifth Third Bancorp by 0.8% during the first quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after buying an additional 328 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Fifth Third Bancorp by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 73,905 shares of the financial services provider’s stock worth $2,750,000 after buying an additional 365 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $40.98 on Thursday. The firm’s 50-day moving average price is $37.25 and its 200-day moving average price is $36.07. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $41.85. The firm has a market capitalization of $28.03 billion, a P/E ratio of 13.01, a P/E/G ratio of 2.35 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the company posted $0.87 EPS. Equities research analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Activity

In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FITB shares. Bank of America boosted their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Argus boosted their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Friday, May 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.15.

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.