Ritter Daniher Financial Advisory LLC DE Decreases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Ritter Daniher Financial Advisory LLC DE trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,917 shares of the financial services provider’s stock after selling 1,005 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Fifth Third Bancorp were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Venturi Wealth Management LLC raised its stake in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the period. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp in the second quarter valued at approximately $34,000. Hexagon Capital Partners LLC lifted its stake in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares in the last quarter. Family Firm Inc. bought a new position in Fifth Third Bancorp in the 2nd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at approximately $53,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Down 0.6 %

Shares of FITB opened at $46.99 on Friday. The stock has a market capitalization of $31.51 billion, a P/E ratio of 15.61, a PEG ratio of 2.25 and a beta of 1.21. Fifth Third Bancorp has a twelve month low of $26.89 and a twelve month high of $48.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $43.61 and a two-hundred day simple moving average of $40.38.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $0.92 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 49.17%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This represents a 14.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FITB. 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. Barclays increased their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Argus lifted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given 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 $43.09.

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.