Fifth Third Bancorp (NASDAQ:FITB) Short Interest Update

Fifth Third Bancorp (NASDAQ:FITB – Get Free Report ) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 20,410,000 shares, a decrease of 7.9% from the August 15th total of 22,150,000 shares. Based on an average daily trading volume of 4,400,000 shares, the short interest rate is currently 4.6 days. Currently, 3.0% of the stock’s shares are short sold.

Insider trading at Fifth Third Bancorp

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

Hedge funds influence Fifth Third Bancorp

A number of hedge funds have recently bought and sold shares of the company. Morningstar Investment Management LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $2,257,000. Bank of Nova Scotia boosted its holdings in shares of Fifth Third Bancorp by 31.6% in the fourth quarter. Bank of Nova Scotia now owns 88,587 shares of the financial services provider’s stock worth $3,056,000 after purchasing an additional 21,251 shares in the last quarter. Park National Corp OH raised its position in shares of Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 5,411 shares actions during the period. Rhino Investment Partners Inc grew its position in Fifth Third Bancorp by 20.1% in the fourth quarter. Rhino Investment Partners Inc now owns 1,301,553 shares of the financial services provider’s stock worth $44,891,000 after buying an additional 217,956 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Fifth Third Bancorp by 8.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock worth $10,043,000 after purchasing an additional 21,612 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s shares.

Changes in Analyst Ratings

Several research analysts recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Stephens reissued an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Jefferies Financial Group upped their target price 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. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Friday, May 31st. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.56.

Get the latest analysis on Fifth Third Bancorp

Shares of Fifth Third Bancorp rose 0.3%

NASDAQ:FITB traded up $0.11 during trading hours on Wednesday, reaching $42.62. 3,962,842 shares of the company traded hands, compared to its average volume of 4,653,366. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $43.37. The stock has a market cap of $29.15 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.93 and a beta of 1.22. The company’s 50-day moving average price is $40.85, and its two-hundred-day moving average price is $38.02. 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 (NASDAQ:FITB – Get Free Report ) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted earnings of $0.87 per share. analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp raises dividend

The firm also recently disclosed 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 is Monday, September 30. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents an annualized dividend of $1.48 and a dividend yield of 3.47%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Fifth Third Bancorp Company Profile

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Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, the National Association engaged in providing 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.

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