Avantax Advisory Services Inc. Purchases 6,186 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Avantax Advisory Services Inc. boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 6.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,292 shares of the financial services provider’s stock after purchasing an additional 6,186 shares during the period. Avantax Advisory Services Inc.’s holdings in Fifth Third Bancorp were worth $2,540,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. ICA Group Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $38,000. Covestor Ltd grew its holdings in Fifth Third Bancorp by 43.9% during the 1st quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 372 shares during the last quarter. Coastal Investment Advisors Inc. bought a new stake in Fifth Third Bancorp during the 2nd quarter worth about $32,000. Archer Investment Corp acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $33,000. Finally, Clear Street Markets LLC lifted its position in shares of Fifth Third Bancorp by 93.4% during the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 647 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 18th. Morgan Stanley lifted their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods downgraded shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and upped their target price for the company from $33.00 to $37.00 in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.17.

Get Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Stock Down 1.6 %

Fifth Third Bancorp stock opened at $33.31 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $22.11 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.29 and a beta of 1.27. The company’s 50 day simple moving average is $33.52 and its 200 day simple moving average is $28.72.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts anticipate that Fifth Third Bancorp will post 3.18 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.40 dividend on an annualized basis and a yield of 4.20%. Fifth Third Bancorp’s payout ratio is 43.34%.

Fifth Third Bancorp Profile

(Free Report)

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. 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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