SeaCrest Wealth Management LLC Acquires Shares of 5,337 Fifth Third Bancorp (FITB)
SeaCrest Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,337 shares of the financial services provider’s stock, valued at approximately $162,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in FITB. Koch Industries Inc. purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at about $325,000. Toronto Dominion Bank increased its stake in Fifth Third Bancorp by 25.3% in the 2nd quarter. Toronto Dominion Bank now owns 254,772 shares of the financial services provider’s stock worth $6,612,000 after purchasing an additional 51,384 shares during the period. Park National Corp OH increased its stake in Fifth Third Bancorp by 13.3% in the 3rd quarter. Park National Corp OH now owns 68,947 shares of the financial services provider’s stock worth $1,929,000 after purchasing an additional 8,082 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $2,509,000. Finally, Shell Asset Management Co. increased its stake in Fifth Third Bancorp by 175.7% in the 3rd quarter. Shell Asset Management Co. now owns 127,058 shares of the financial services provider’s stock worth $2,544,000 after purchasing an additional 80,980 shares during the period. 84.41% of the stock is currently owned by institutional investors.
In other news, SVP Mark D. Hazel sold 7,500 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $32.81, for a total value of $246,075.00. Following the completion of the transaction, the senior vice president now owns 62,254 shares in the company, valued at $2,042,553.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frank R. Forrest sold 4,836 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $31.90, for a total value of $154,268.40. Following the completion of the transaction, the executive vice president now owns 112,474 shares of the company’s stock, valued at approximately $3,587,920.60. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.49 earnings per share. research analysts predict that Fifth Third Bancorp will post 2.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 22.46%.
A number of equities analysts have commented on the company. BidaskClub raised Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Morgan Stanley lifted their price target on Fifth Third Bancorp from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Vining Sparks reaffirmed a “buy” rating and issued a $35.00 price target on shares of Fifth Third Bancorp in a research note on Sunday, January 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $35.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.70.
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Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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