Daymark Wealth Partners LLC Sells 2,134 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Daymark Wealth Partners LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,142 shares of the financial services provider’s stock after selling 2,134 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Fifth Third Bancorp were worth $11,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of FITB. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Fifth Third Bancorp during the first quarter valued at $29,000. American Capital Advisory LLC bought a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Centerpoint Advisors LLC raised its holdings in Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares during the last quarter. Family Firm Inc. bought a new position in shares of Fifth Third Bancorp in the second quarter worth approximately $52,000. Finally, Mather Group LLC. purchased a new stake in shares of Fifth Third Bancorp during the first quarter valued at approximately $56,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded up $0.95 during trading hours on Wednesday, hitting $42.94. The stock had a trading volume of 633,530 shares, compared to its average volume of 4,583,022. The stock’s 50-day moving average price is $41.48 and its two-hundred day moving average price is $38.69. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $43.85. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (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 business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations 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 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. 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. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Argus lifted their target price on shares of 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 boosted 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. Finally, Evercore ISI raised their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One equities research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.78.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp 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 owns 20,961 shares of the company’s stock, valued at $863,802.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,500 shares of company stock worth $2,269,920. 0.50% of the stock is currently owned by 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.