Two Sigma Advisers LP trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 58.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,450 shares of the financial services provider’s stock after selling 288,200 shares during the period. Two Sigma Advisers LP’s holdings in Fifth Third Bancorp were worth $4,881,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC grew its holdings in shares of Fifth Third Bancorp by 96.5% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 25,000 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 12,280 shares in the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of Fifth Third Bancorp by 0.4% during the fourth quarter. Brandywine Global Investment Management LLC now owns 875,264 shares of the financial services provider’s stock worth $20,595,000 after purchasing an additional 3,443 shares in the last quarter. Basswood Capital Management L.L.C. grew its holdings in shares of Fifth Third Bancorp by 128.2% during the fourth quarter. Basswood Capital Management L.L.C. now owns 317,313 shares of the financial services provider’s stock worth $7,466,000 after purchasing an additional 178,261 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $537,000. Finally, Lido Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 13.2% during the fourth quarter. Lido Advisors LLC now owns 25,810 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 3,000 shares in the last quarter. 83.71% of the stock is owned by institutional investors.
In related news, EVP Frank R. Forrest sold 26,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $26.37, for a total value of $685,620.00. Following the sale, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Teresa J. Tanner sold 55,600 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $27.47, for a total value of $1,527,332.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
FITB stock traded down $0.07 during midday trading on Wednesday, hitting $28.28. The company had a trading volume of 7,151,994 shares, compared to its average volume of 7,665,017. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $18.34 billion, a P/E ratio of 11.13, a PEG ratio of 1.27 and a beta of 1.32. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.67 billion. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, equities analysts predict that Fifth Third Bancorp will post 2.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.11%. Fifth Third Bancorp’s dividend payout ratio is presently 34.65%.
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About Fifth Third Bancorp
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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