Isthmus Partners LLC Sells 7,411 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Isthmus Partners LLC cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 332,384 shares of the financial services provider’s stock after selling 7,411 shares during the period. Isthmus Partners LLC’s holdings in Fifth Third Bancorp were worth $121,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Morningstar Investment Management LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $2,257,000. Bank of Nova Scotia boosted its stake in shares of Fifth Third Bancorp by 31.6% in the 4th quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock worth $3,056,000 after buying an additional 21,251 shares during the last quarter. Park National Corp OH grew its holdings in shares of Fifth Third Bancorp by 15.0% in the second quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 5,411 shares in the last quarter. rhino investment partners Inc increased its position in shares of Fifth Third Bancorp by 20.1% during the fourth quarter. rhino investment partners Inc now owns 1,301,553 shares of the financial services provider’s stock valued at $44,891,000 after acquiring an additional 217,956 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Fifth Third Bancorp by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock worth $10,043,000 after acquiring an additional 21,612 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $1.01 during trading hours on Friday, reaching $40.69. The stock had a trading volume of 3,184,776 shares, compared to its average volume of 4,684,427. The stock’s fifty day simple moving average is $40.12 and its 200 day simple moving average is $37.57. The firm has a market capitalization of $27.83 billion, a PE ratio of 12.92, a PEG ratio of 2.01 and a beta of 1.22. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $42.91. 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 released its quarterly earnings results 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 business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the business earned $0.87 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Insider Activity

In other news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the transaction, the executive vice president now directly owns 125,087 shares in the company, valued at approximately $5,224,883.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the transaction, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,500 shares of company stock worth $2,269,920. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FITB has been the topic of a number of recent analyst reports. Argus lifted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Finally, Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, May 31st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.56.

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.