Pinion Investment Advisors LLC Sells 2,250 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Pinion Investment Advisors LLC trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 20.7% during the second quarter, HoldingsChannel reports. The firm owned 8,602 shares of the financial services provider’s stock after selling 2,250 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FITB. Gilbert & Cook Inc. grew its stake in Fifth Third Bancorp by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 19,698 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 729 shares during the period. Aveo Capital Partners LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $206,000. 9258 Wealth Management LLC increased its stake in Fifth Third Bancorp by 4.6% during the 4th quarter. 9258 Wealth Management LLC now owns 14,019 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 620 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Fifth Third Bancorp by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 809,691 shares of the financial services provider’s stock worth $27,926,000 after buying an additional 13,204 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here. Insiders have sold a total of 54,500 shares of company stock worth $2,269,920 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 2.2 %

Shares of Fifth Third Bancorp stock opened at $42.07 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $40.60 and a 200-day moving average of $37.87. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $42.91. The stock has a market cap of $28.47 billion, a PE ratio of 13.36, a PEG ratio of 1.93 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.87 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.52%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FITB shares. Argus raised their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Jefferies Financial Group lifted their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Evercore ISI reduced their target price on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Finally, Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.