Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Aprio Wealth Management LLC

Aprio Wealth Management LLC lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,794 shares of the financial services provider’s stock after acquiring an additional 1,164 shares during the period. Aprio Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in FITB. Quent Capital LLC lifted its stake in Fifth Third Bancorp by 9.9% during the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co lifted its position in shares of Fifth Third Bancorp by 2.6% in the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 259 shares in the last quarter. Bailard Inc. lifted its position in shares of Fifth Third Bancorp by 0.5% in the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 264 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Fifth Third Bancorp by 2.0% in the 2nd quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 278 shares in the last quarter. Finally, SVB Wealth LLC lifted its position in shares of Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 283 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $41.99 on Wednesday. The company’s fifty day moving average is $41.48 and its 200-day moving average is $38.65. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $43.85. The firm has a market cap of $28.72 billion, a price-to-earnings ratio of 13.33, 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 (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $0.87 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued 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 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. This represents a 0.00 % decrease in their position. The transaction 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 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 sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,500 shares of company stock valued at $2,269,920. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Royal Bank of Canada upped their price target 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. Stephens restated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Jefferies Financial Group upped their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company 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 assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.78.

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.