Rockefeller Capital Management L.P. Grows Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Rockefeller Capital Management L.P. raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,059,641 shares of the financial services provider’s stock after buying an additional 37,507 shares during the period. Rockefeller Capital Management L.P. owned 0.16% of Fifth Third Bancorp worth $45,372,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board grew its holdings in shares of Fifth Third Bancorp by 1.9% in the third quarter. Public Sector Pension Investment Board now owns 118,197 shares of the financial services provider’s stock valued at $5,064,000 after acquiring an additional 2,200 shares in the last quarter. Fiduciary Trust Co boosted its holdings in shares of Fifth Third Bancorp by 36.8% in the 3rd quarter. Fiduciary Trust Co now owns 26,755 shares of the financial services provider’s stock worth $1,146,000 after buying an additional 7,201 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Fifth Third Bancorp during the third quarter valued at about $271,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Fifth Third Bancorp during the third quarter worth about $12,895,000. Finally, Townsquare Capital LLC bought a new stake in Fifth Third Bancorp in the third quarter worth about $804,000. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $48.06 on Friday. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.30 and a beta of 1.21. The business has a 50 day moving average of $44.70 and a 200 day moving average of $41.03. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1-year low of $28.29 and a 1-year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business 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. This represents a $1.48 annualized dividend and a yield of 3.08%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Wall Street Analysts Forecast Growth

FITB has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Barclays lifted their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.62.

About Fifth Third Bancorp

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.