Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 14.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,956 shares of the financial services provider’s stock after purchasing an additional 3,113 shares during the period. GAMMA Investing LLC’s holdings in Fifth Third Bancorp were worth $1,026,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FITB. Czech National Bank increased its holdings in Fifth Third Bancorp by 5.8% in the 3rd quarter. Czech National Bank now owns 137,886 shares of the financial services provider’s stock worth $5,907,000 after acquiring an additional 7,535 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Fifth Third Bancorp by 2.0% during the third quarter. Handelsbanken Fonder AB now owns 124,093 shares of the financial services provider’s stock worth $5,316,000 after purchasing an additional 2,466 shares in the last quarter. Quent Capital LLC raised its position in shares of Fifth Third Bancorp by 9.9% during the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Fifth Third Bancorp by 2.7% in the 3rd quarter. Park Avenue Securities LLC now owns 60,870 shares of the financial services provider’s stock valued at $2,608,000 after buying an additional 1,589 shares in the last quarter. Finally, Trust Co. of Toledo NA OH boosted its holdings in Fifth Third Bancorp by 7.5% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 51,747 shares of the financial services provider’s stock worth $2,217,000 after buying an additional 3,596 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Argus raised their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.78.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $42.16 on Tuesday. The firm has a market cap of $28.84 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $43.85. The business’s fifty day simple moving average is $41.48 and its 200-day simple moving average is $38.62.

Fifth Third Bancorp (NASDAQ:FITB) last posted its 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 company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.87 EPS. Equities analysts forecast that Fifth Third Bancorp will post 3.3 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. Investors of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the firm’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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 of the company’s stock, valued at $5,376,880. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,500 shares of company stock valued at $2,269,920 over the last quarter. 0.50% of the stock is owned by company insiders.

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.