SageView Advisory Group LLC Purchases 1,018 Shares of Fifth Third Bancorp (NASDAQ:FITB)

SageView Advisory Group LLC lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,507 shares of the financial services provider’s stock after acquiring an additional 1,018 shares during the quarter. SageView Advisory Group LLC’s holdings in Fifth Third Bancorp were worth $973,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. FineMark National Bank & Trust bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $253,000. Commerce Bank grew its stake in shares of Fifth Third Bancorp by 1.3% in the 4th quarter. Commerce Bank now owns 37,634 shares of the financial services provider’s stock worth $1,298,000 after acquiring an additional 487 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Fifth Third Bancorp by 7.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 82,176 shares of the financial services provider’s stock worth $2,834,000 after acquiring an additional 5,547 shares in the last quarter. Assetmark Inc. grew its stake in shares of Fifth Third Bancorp by 14,250.0% in the 4th quarter. Assetmark Inc. now owns 2,009 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of Fifth Third Bancorp by 46.0% in the 4th quarter. CreativeOne Wealth LLC now owns 14,468 shares of the financial services provider’s stock worth $499,000 after acquiring an additional 4,558 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.43 during trading on Friday, hitting $37.25. 1,852,233 shares of the company’s stock traded hands, compared to its average volume of 3,259,696. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.58 and a beta of 1.24. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $39.14. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50 day moving average of $36.71 and a 200-day moving average of $34.16.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FITB shares. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $37.50 to $39.50 in a report on Wednesday, May 1st. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Evercore ISI boosted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. UBS Group reissued a “neutral” rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.50.

Insider Activity

In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at $5,134,575. 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 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Profile

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.