Cassady Schiller Wealth Management LLC Has $784,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Cassady Schiller Wealth Management LLC lessened its position in Fifth Third Bancorp (NASDAQ:FITB) by 37.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,697 shares of the financial services provider’s stock after selling 13,619 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $784,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently commented on FITB. Evercore ISI lifted their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Robert W. Baird reiterated a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target (up previously from $39.00) on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Price Performance

Shares of FITB traded down $0.75 during mid-day trading on Thursday, hitting $36.84. The company’s stock had a trading volume of 1,431,907 shares, compared to its average volume of 4,989,933. The firm has a 50-day moving average price of $36.64 and a 200 day moving average price of $34.01. The stock has a market capitalization of $25.20 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.78 earnings per share. On average, research analysts predict that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is owned by insiders.

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.