UMB Bank n.a. Buys 716 Shares of Fifth Third Bancorp (NASDAQ:FITB)

UMB Bank n.a. raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,872 shares of the financial services provider’s stock after buying an additional 716 shares during the period. UMB Bank n.a.’s holdings in Fifth Third Bancorp were worth $766,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FITB. United Advisor Group LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $249,000. Voisard Asset Management Group Inc. bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $102,000. Syon Capital LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $383,000. EP Wealth Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $259,000. Finally, Thomas Story & Son LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $236,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Up 2.7 %

NASDAQ FITB opened at $43.84 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average is $41.52 and its two-hundred day moving average is $38.75. The company has a market capitalization of $29.67 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $43.94.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same period in the previous year, the firm posted $0.87 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.38%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Insider Activity

In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,500 shares of company stock worth $2,269,920. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI raised their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.78.

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.