Meeder Advisory Services Inc. Has $934,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Meeder Advisory Services Inc. lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,796 shares of the financial services provider’s stock after purchasing an additional 535 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Fifth Third Bancorp were worth $934,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Edgestream Partners L.P. acquired a new stake in shares of Fifth Third Bancorp during the first quarter worth $508,000. O Shaughnessy Asset Management LLC raised its stake in shares of Fifth Third Bancorp by 35.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 60,382 shares of the financial services provider’s stock valued at $2,247,000 after purchasing an additional 15,838 shares during the period. UniSuper Management Pty Ltd lifted its holdings in shares of Fifth Third Bancorp by 1,040.4% in the first quarter. UniSuper Management Pty Ltd now owns 24,244 shares of the financial services provider’s stock valued at $902,000 after purchasing an additional 22,118 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Fifth Third Bancorp by 237.4% during the first quarter. Bessemer Group Inc. now owns 54,093 shares of the financial services provider’s stock worth $2,013,000 after buying an additional 38,061 shares during the period. Finally, Lake Street Advisors Group LLC bought a new position in shares of Fifth Third Bancorp during the first quarter worth about $249,000. 83.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was 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 of the company’s stock, valued at $4,805,724. The trade was a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 0.8 %

Fifth Third Bancorp stock opened at $46.44 on Wednesday. Fifth Third Bancorp has a twelve month low of $26.89 and a twelve month high of $48.10. The stock has a market cap of $31.14 billion, a P/E ratio of 15.43, a P/E/G ratio of 2.25 and a beta of 1.21. The company’s 50-day moving average price is $43.83 and its two-hundred day moving average price is $40.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.19%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Analysts Set New Price Targets

FITB has been the topic of several research reports. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Barclays lifted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.09.

Fifth Third Bancorp Company 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.