1,600 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,600 shares of the financial services provider’s stock, valued at approximately $69,000.

Other hedge funds have also modified their holdings of the company. Asio Capital LLC increased its holdings in shares of Fifth Third Bancorp by 1.6% during the third quarter. Asio Capital LLC now owns 78,876 shares of the financial services provider’s stock valued at $3,379,000 after acquiring an additional 1,216 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Fifth Third Bancorp by 257.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,183 shares of the financial services provider’s stock worth $267,000 after buying an additional 4,454 shares during the period. Juncture Wealth Strategies LLC increased its holdings in Fifth Third Bancorp by 19.6% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 10,390 shares of the financial services provider’s stock worth $445,000 after buying an additional 1,700 shares during the period. LVW Advisors LLC increased its holdings in Fifth Third Bancorp by 3.8% in the 3rd quarter. LVW Advisors LLC now owns 16,128 shares of the financial services provider’s stock worth $691,000 after buying an additional 595 shares during the period. Finally, Tobam grew its stake in shares of Fifth Third Bancorp by 44.5% during the 3rd quarter. Tobam now owns 1,996 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 615 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. 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 through the SEC website. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Up 0.5 %

NASDAQ FITB opened at $43.87 on Thursday. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $45.71. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $30.01 billion, a PE ratio of 13.93, a P/E/G ratio of 1.94 and a beta of 1.22. The business’s fifty day simple moving average is $42.40 and its 200-day simple moving average is $39.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.37%. This is a positive change 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 presently 46.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FITB. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday. Argus boosted 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 note on Monday, July 22nd. Evercore ISI lifted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Barclays boosted their price objective on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.28.

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.