Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,661 shares of the financial services provider’s stock after acquiring an additional 519 shares during the period. Stablepoint Partners LLC’s holdings in Fifth Third Bancorp were worth $4,655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park National Corp OH boosted its stake in shares of Fifth Third Bancorp by 15.0% during the 2nd quarter. Park National Corp OH now owns 41,503 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 5,411 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Fifth Third Bancorp by 8.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 291,188 shares of the financial services provider’s stock worth $10,043,000 after buying an additional 21,612 shares in the last quarter. M&G Plc acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $1,254,000. Plato Investment Management Ltd purchased a new position in Fifth Third Bancorp during the 1st quarter valued at about $639,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Fifth Third Bancorp by 9.1% in the first quarter. Russell Investments Group Ltd. now owns 313,324 shares of the financial services provider’s stock valued at $11,657,000 after purchasing an additional 26,194 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FITB shares. Argus lifted their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price objective 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. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Evercore ISI increased their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.78.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive vice president now owns 134,422 shares in the company, valued at $5,376,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s 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 sale, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,500 shares of company stock worth $2,269,920. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 0.1 %

Fifth Third Bancorp stock traded down $0.05 during trading on Monday, reaching $43.79. 77,316 shares of the company’s stock were exchanged, compared to its average volume of 4,567,514. The company’s 50-day moving average is $41.61 and its two-hundred day moving average is $38.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.94. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last issued 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). The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.87 EPS. On average, analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

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.