Strategic Advocates LLC Acquires New Position in Fifth Third Bancorp (NASDAQ:FITB)

Strategic Advocates LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITBFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 16,768 shares of the financial services provider’s stock, valued at approximately $624,000.

A number of other institutional investors have also modified their holdings of FITB. Vanguard Group Inc. grew its holdings in Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after acquiring an additional 734,403 shares in the last quarter. Capital World Investors increased its holdings in Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after buying an additional 10,472,392 shares during the period. Invesco Ltd. raised its stake in Fifth Third Bancorp by 8.4% in the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after buying an additional 1,500,653 shares in the last quarter. Boston Partners lifted its holdings in Fifth Third Bancorp by 11.5% during the fourth quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Fifth Third Bancorp by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock valued at $318,979,000 after acquiring an additional 393,489 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold 22,357 shares of company stock worth $816,148 over the last quarter. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI upped their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Stephens restated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. DA Davidson boosted their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company upped their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.21.

Check Out Our Latest Research Report on Fifth Third Bancorp

Fifth Third Bancorp Stock Performance

NASDAQ:FITB traded up $0.33 during midday trading on Tuesday, hitting $35.98. The company’s stock had a trading volume of 3,356,292 shares, compared to its average volume of 4,881,329. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $39.14. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $24.61 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.44 and a beta of 1.24. The firm’s 50 day moving average is $36.69 and its 200-day moving average is $35.30.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.78 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.89%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

About Fifth Third Bancorp

(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.

See Also

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

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