Fifth Third Bancorp (NASDAQ:FITB) Holdings Lowered by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,505 shares of the financial services provider’s stock after selling 822 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Fifth Third Bancorp were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Fifth Third Bancorp during the first quarter valued at $29,000. Centerpoint Advisors LLC boosted its holdings in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares during the period. Family Firm Inc. purchased a new position in Fifth Third Bancorp during the second quarter valued at approximately $52,000. Mather Group LLC. acquired a new position in Fifth Third Bancorp in the 1st quarter valued at approximately $56,000. Finally, Jones Financial Companies Lllp increased its stake in Fifth Third Bancorp by 327.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,675 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,283 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.7 %

Shares of FITB stock traded down $0.31 on Tuesday, reaching $41.63. 713,165 shares of the stock were exchanged, compared to its average volume of 4,743,760. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day moving average price of $39.05 and a 200 day moving average price of $37.10. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $42.91. The stock has a market cap of $28.48 billion, a PE ratio of 13.31, a P/E/G ratio of 1.91 and a beta of 1.24.

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

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now directly owns 20,961 shares in the company, valued at $863,802.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The disclosure for this sale can be found here. Insiders have sold a total of 34,500 shares of company stock valued at $1,429,920 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FITB. Stephens restated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Evercore ISI cut their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Argus increased their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.56.

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.