16,459 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,459 shares of the financial services provider’s stock, valued at approximately $593,000.

Several other institutional investors have also added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Fifth Third Bancorp during the 1st quarter valued at approximately $29,000. American Capital Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth $34,000. Centerpoint Advisors LLC raised its position in shares of Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 750 shares during the period. Family Firm Inc. purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter valued at $52,000. Finally, Mather Group LLC. bought a new position in Fifth Third Bancorp in the 1st quarter worth $56,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $41.98 on Thursday. The firm has a market capitalization of $28.72 billion, a PE ratio of 13.33, a PEG ratio of 2.03 and a beta of 1.22. The stock’s fifty day moving average is $41.48 and its 200 day moving average is $38.51. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $43.85. 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 (NASDAQ:FITB) last released its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same quarter last year, the business posted $0.87 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.53%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

Insider Buying and Selling

In other Fifth Third Bancorp news, 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 value of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. 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. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Stephens reaffirmed an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Jefferies Financial Group boosted their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Bank of America raised their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.78.

Fifth Third Bancorp 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.