Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,356 shares of the financial services provider’s stock after selling 1,872 shares during the period. Axxcess Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in Fifth Third Bancorp by 2.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 195,754 shares of the financial services provider’s stock worth $4,958,000 after purchasing an additional 5,372 shares during the last quarter. Raymond James & Associates grew its stake in shares of Fifth Third Bancorp by 17.0% in the 3rd quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock valued at $14,994,000 after purchasing an additional 85,981 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Fifth Third Bancorp by 4.2% in the third quarter. Brown Advisory Inc. now owns 24,241 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 988 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Fifth Third Bancorp by 49.6% during the third quarter. Lindbrook Capital LLC now owns 2,126 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 705 shares during the period. Finally, IFM Investors Pty Ltd grew its position in Fifth Third Bancorp by 3.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 152,736 shares of the financial services provider’s stock valued at $3,869,000 after buying an additional 5,117 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold a total of 48,857 shares of company stock worth $1,787,638 in the last quarter. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FITB. JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.50.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $38.48 on Thursday. The company has a market capitalization of $26.21 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $38.51. The company’s 50 day simple moving average is $36.05 and its 200 day simple moving average is $32.95.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the firm earned $0.78 earnings per share. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.22 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.64%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

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.