Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 69.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,409 shares of the financial services provider’s stock after purchasing an additional 3,034 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Fifth Third Bancorp were worth $256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FITB. GoalVest Advisory LLC increased its holdings in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares in the last quarter. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $36,000. Financial Management Professionals Inc. grew its holdings in Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter valued at $46,000. Finally, Friedenthal Financial acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth $48,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $38.98 on Thursday. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market cap of $26.66 billion, a P/E ratio of 12.37, a PEG ratio of 1.44 and a beta of 1.24. The business’s 50-day moving average price is $36.42 and its 200 day moving average price is $33.50.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal 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 issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Analyst Ratings Changes

A number of brokerages recently commented on FITB. Stephens reissued an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Evercore ISI upped their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Robert W. Baird reiterated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Finally, UBS Group restated a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.50.

Get Our Latest Stock Analysis on Fifth Third Bancorp

Insider Transactions 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 completion of the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following 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 48,857 shares of company stock valued at $1,787,638 over the last three months. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Company Profile

(Free Report)

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.

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

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