LexAurum Advisors LLC Invests $205,000 in Fifth Third Bancorp (NASDAQ:FITB)

LexAurum Advisors LLC acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,501 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other large investors have also bought and sold shares of FITB. Aprio Wealth Management LLC acquired a new position in shares of Fifth Third Bancorp in the 1st quarter worth approximately $284,000. Park Avenue Securities LLC boosted its position in Fifth Third Bancorp by 1.6% during the first quarter. Park Avenue Securities LLC now owns 63,074 shares of the financial services provider’s stock valued at $2,347,000 after acquiring an additional 976 shares during the last quarter. Wedmont Private Capital grew its holdings in Fifth Third Bancorp by 11.4% during the 1st quarter. Wedmont Private Capital now owns 7,098 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 728 shares during the period. Czech National Bank raised its position in shares of Fifth Third Bancorp by 0.5% in the 1st quarter. Czech National Bank now owns 119,861 shares of the financial services provider’s stock worth $4,460,000 after acquiring an additional 586 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Fifth Third Bancorp in the 1st quarter valued at about $56,000. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $36.06 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $24.67 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24. The stock’s fifty day simple moving average is $36.77 and its two-hundred day simple moving average is $35.38. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company 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 period last year, the firm earned $0.78 earnings per share. As a group, analysts forecast that Fifth Third Bancorp will post 3.26 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson raised their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Friday, May 31st. Evercore ISI raised their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. UBS Group reaffirmed a “neutral” rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Finally, Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.21.

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.