Fifth Third Bancorp (FITB) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,000 shares of the financial services provider’s stock after selling 5,000 shares during the period. Hennessy Advisors Inc.’s holdings in Fifth Third Bancorp were worth $979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FITB. Janus Henderson Group PLC raised its holdings in shares of Fifth Third Bancorp by 7,461.4% in the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after buying an additional 7,511,357 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in shares of Fifth Third Bancorp by 265.3% in the second quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock worth $99,198,000 after buying an additional 2,775,259 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Fifth Third Bancorp by 97.5% in the second quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock worth $87,813,000 after buying an additional 1,670,055 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Fifth Third Bancorp by 1,130.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,459,713 shares of the financial services provider’s stock worth $37,894,000 after buying an additional 1,341,100 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 310.1% in the second quarter. Pioneer Investment Management Inc. now owns 867,603 shares of the financial services provider’s stock worth $22,523,000 after buying an additional 656,063 shares during the last quarter. 81.45% of the stock is owned by institutional investors and hedge funds.

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Several research analysts recently issued reports on FITB shares. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. UBS AG reissued a “sell” rating and set a $26.00 target price (up previously from $25.00) on shares of Fifth Third Bancorp in a report on Friday, October 6th. Bank of America Corporation raised their target price on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reissued a “hold” rating and set a $27.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.33.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded down $0.34 during midday trading on Monday, hitting $27.67. 6,799,400 shares of the stock traded hands, compared to its average volume of 5,765,216. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $29.39. The firm has a market capitalization of $19,523.43, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business earned $0.65 earnings per share. equities analysts expect that Fifth Third Bancorp will post 1.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.16 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, September 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.31%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 23.97%.

In related news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank R. Forrest sold 7,004 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.21, for a total transaction of $183,574.84. Following the transaction, the executive vice president now owns 71,793 shares in the company, valued at $1,881,694.53. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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