Bleakley Financial Group LLC Raises Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Bleakley Financial Group LLC raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,489 shares of the financial services provider’s stock after acquiring an additional 727 shares during the period. Bleakley Financial Group LLC’s holdings in Fifth Third Bancorp were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Mather Group LLC. purchased a new stake in shares of Fifth Third Bancorp during the 1st quarter worth about $56,000. Gateway Investment Advisers LLC increased its position in shares of Fifth Third Bancorp by 2.5% in the first quarter. Gateway Investment Advisers LLC now owns 135,669 shares of the financial services provider’s stock worth $5,048,000 after acquiring an additional 3,271 shares in the last quarter. Mcdonald Partners LLC purchased a new position in shares of Fifth Third Bancorp in the 1st quarter valued at $213,000. St. Johns Investment Management Company LLC lifted its holdings in shares of Fifth Third Bancorp by 8.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 22,132 shares of the financial services provider’s stock valued at $824,000 after acquiring an additional 1,814 shares in the last quarter. Finally, Signet Financial Management LLC lifted its holdings in shares of Fifth Third Bancorp by 2.8% during the 1st quarter. Signet Financial Management LLC now owns 74,054 shares of the financial services provider’s stock valued at $2,756,000 after acquiring an additional 2,025 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FITB has been the topic of several research reports. Bank of America raised their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Argus increased their price objective on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays boosted their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.28.

Fifth Third Bancorp Price Performance

FITB opened at $43.37 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $45.71. The company has a 50-day moving average of $42.24 and a 200-day moving average of $39.18. The company has a market capitalization of $29.67 billion, a P/E ratio of 13.77, a PEG ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. Fifth Third Bancorp’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts expect that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.41%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jude Schramm sold 20,000 shares of the company’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 directly owns 114,422 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now owns 20,961 shares in the company, valued at $863,802.81. The trade was 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 have sold 52,000 shares of company stock worth $2,169,920. 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.