Sterling Investment Advisors Ltd. Sells 2,000 Shares of Fifth Third Bancorp (FITB)

Sterling Investment Advisors Ltd. decreased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 52.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,800 shares of the financial services provider’s stock after selling 2,000 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Fifth Third Bancorp were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FITB. Paradigm Asset Management Co. LLC raised its stake in Fifth Third Bancorp by 2.1% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 81,360 shares of the financial services provider’s stock valued at $2,272,000 after acquiring an additional 1,700 shares in the last quarter. Morningstar Investment Services LLC raised its stake in Fifth Third Bancorp by 17.2% during the 3rd quarter. Morningstar Investment Services LLC now owns 12,444 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 1,822 shares in the last quarter. AlphaMark Advisors LLC raised its stake in Fifth Third Bancorp by 1.4% during the 3rd quarter. AlphaMark Advisors LLC now owns 139,669 shares of the financial services provider’s stock valued at $3,900,000 after acquiring an additional 1,891 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in Fifth Third Bancorp by 1.7% during the 3rd quarter. Icon Advisers Inc. Co. now owns 115,602 shares of the financial services provider’s stock valued at $3,228,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Kemnay Advisory Services Inc. raised its stake in Fifth Third Bancorp by 4.6% during the 3rd quarter. Kemnay Advisory Services Inc. now owns 46,242 shares of the financial services provider’s stock valued at $1,291,000 after acquiring an additional 2,027 shares in the last quarter. 81.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of FITB stock opened at $27.00 on Friday. Fifth Third Bancorp has a 1-year low of $22.12 and a 1-year high of $34.67. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. The firm has a market cap of $17.31 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 2.49 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were paid a $0.22 dividend. The ex-dividend date was Friday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.18. Fifth Third Bancorp’s payout ratio is 32.84%.

FITB has been the topic of several recent analyst reports. BidaskClub raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, October 5th. Nomura raised Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and dropped their price objective for the stock from $32.00 to $29.00 in a research note on Wednesday, October 24th. They noted that the move was a valuation call. BMO Capital Markets dropped their price objective on Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 24th. Piper Jaffray Companies set a $31.00 price objective on Fifth Third Bancorp and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Raymond James raised Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, October 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.75.

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Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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

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