B. Riley Wealth Advisors Inc. Has $848,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

B. Riley Wealth Advisors Inc. cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 18.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,008 shares of the financial services provider’s stock after selling 5,087 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Fifth Third Bancorp were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FITB. Capital World Investors grew its holdings in shares of Fifth Third Bancorp by 13.4% during the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after buying an additional 5,512,333 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Fifth Third Bancorp during the second quarter worth about $33,337,000. Vanguard Group Inc. grew its holdings in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after buying an additional 734,403 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after buying an additional 583,781 shares in the last quarter. Finally, Vest Financial LLC bought a new position in Fifth Third Bancorp in the first quarter valued at approximately $19,401,000. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fifth Third Bancorp 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 completion of the transaction, the director now owns 20,961 shares of the company’s stock, 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 Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock worth $2,269,920 in the last ninety days. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $42.10 on Friday. The stock has a fifty day moving average price of $41.48 and a 200-day moving average price of $38.58. The company has a market cap of $28.80 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.03 and a beta of 1.22. 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 fifty-two week low of $22.49 and a fifty-two week high of $43.85.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the previous year, the company posted $0.87 earnings per share. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given 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%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Stephens restated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Argus raised their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.78.

About Fifth Third Bancorp

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.