Fifth Third Bancorp (NASDAQ:FITB) Stake Increased by Global Retirement Partners LLC

Global Retirement Partners LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 23.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,325 shares of the financial services provider’s stock after buying an additional 1,796 shares during the period. Global Retirement Partners LLC’s holdings in Fifth Third Bancorp were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FITB. Quent Capital LLC boosted its holdings in Fifth Third Bancorp by 9.9% in the third 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 period. Diversified Trust Co boosted its holdings in Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 259 shares during the period. Bailard Inc. boosted its holdings in Fifth Third Bancorp by 0.5% in the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 264 shares during the period. Lockerman Financial Group Inc. boosted its holdings in Fifth Third Bancorp by 3.9% in the third quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 264 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in shares of Fifth Third Bancorp by 2.0% during the second 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 during the period. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the subject of several analyst reports. Argus boosted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Bank of America boosted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their price objective on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Barclays upped their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.28.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The trade was 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 other news, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the transaction, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,000 shares of company stock worth $2,169,920. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $43.37 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $42.24 and its two-hundred day moving average price is $39.18. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $45.71. The stock has a market cap of $29.67 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22.

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

Fifth Third Bancorp Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is presently 46.98%.

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.