Axxcess Wealth Management LLC Sells 2,093 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Axxcess Wealth Management LLC decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 25.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,263 shares of the financial services provider’s stock after selling 2,093 shares during the period. Axxcess Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. bought a new stake in Fifth Third Bancorp in the first quarter valued at approximately $29,000. Denali Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $36,000. Centerpoint Advisors LLC grew its position in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $48,000. Finally, Mather Group LLC. acquired a new position in shares of Fifth Third Bancorp in the first quarter valued at approximately $56,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.1 %

NASDAQ FITB opened at $42.27 on Friday. The business has a fifty day moving average price of $37.39 and a two-hundred day moving average price of $36.16. The company has a debt-to-equity ratio of 0.95, 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 $42.31. The stock has a market capitalization of $28.91 billion, a PE ratio of 13.42, a PEG ratio of 1.99 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. Equities analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FITB. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $37.50 to $39.50 in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Morgan Stanley increased their price target on Fifth Third Bancorp from $36.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada increased their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.15.

Insider Activity

In other news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares in the company, valued at approximately $5,224,883.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’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 completion of the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,000 shares of company stock worth $1,523,670. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Company 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.