St. Johns Investment Management Company LLC Trims Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

St. Johns Investment Management Company LLC cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,285 shares of the financial services provider’s stock after selling 343 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Fifth Third Bancorp were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FITB. Wealth Enhancement Advisory Services LLC raised its stake in Fifth Third Bancorp by 1.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 142,826 shares of the financial services provider’s stock valued at $5,315,000 after purchasing an additional 1,940 shares in the last quarter. Gibson Capital LLC bought a new stake in shares of Fifth Third Bancorp during the 1st quarter worth $214,000. Founders Financial Securities LLC purchased a new position in Fifth Third Bancorp in the first quarter worth $361,000. MPS Loria Financial Planners LLC purchased a new stake in Fifth Third Bancorp during the first quarter valued at about $214,000. Finally, LVW Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the 1st quarter worth about $274,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 1.9 %

Shares of Fifth Third Bancorp stock opened at $43.22 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. Fifth Third Bancorp has a 12-month low of $22.75 and a 12-month high of $45.71. The company has a market cap of $29.56 billion, a P/E ratio of 13.72, a PEG ratio of 1.94 and a beta of 1.22. The company’s fifty day simple moving average is $42.49 and its two-hundred day simple moving average is $39.30.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. Fifth Third Bancorp’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. Research analysts anticipate that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.42%. Fifth Third Bancorp’s payout ratio is currently 46.98%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction 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 approximately $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Argus lifted their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their price target 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. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Bank of America boosted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.28.

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.