Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 9.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,726 shares of the financial services provider’s stock after purchasing an additional 1,416 shares during the period. Avantax Advisory Services Inc.’s holdings in Fifth Third Bancorp were worth $503,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC grew its holdings in shares of Fifth Third Bancorp by 3.9% in the third quarter. Clarius Group LLC now owns 10,134 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 376 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Fifth Third Bancorp by 56.8% in the second quarter. Teacher Retirement System of Texas now owns 247,196 shares of the financial services provider’s stock worth $8,306,000 after acquiring an additional 89,511 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Fifth Third Bancorp by 22.3% in the second quarter. Janney Montgomery Scott LLC now owns 120,611 shares of the financial services provider’s stock worth $4,202,000 after acquiring an additional 21,994 shares during the last quarter. HB Wealth Management LLC lifted its stake in Fifth Third Bancorp by 10.3% in the third quarter. HB Wealth Management LLC now owns 10,558 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 989 shares during the last quarter. Finally, Texas Permanent School Fund lifted its stake in Fifth Third Bancorp by 7.1% in the third quarter. Texas Permanent School Fund now owns 97,091 shares of the financial services provider’s stock worth $3,103,000 after acquiring an additional 6,470 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $35.51 on Tuesday. The firm’s fifty day simple moving average is $33.94 and its 200-day simple moving average is $34.28. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.11 and a beta of 1.20. Fifth Third Bancorp has a 12 month low of $30.92 and a 12 month high of $50.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.77.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fifth Third Bancorp had a net margin of 26.15% and a return on equity of 15.48%. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.79 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were paid a $0.33 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.32 annualized dividend and a yield of 3.72%. Fifth Third Bancorp’s dividend payout ratio is currently 39.29%.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $39.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, September 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $37.00 price target on shares of Fifth Third Bancorp in a research note on Monday, December 5th. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. Piper Sandler reduced their price objective on shares of Fifth Third Bancorp to $38.00 in a research report on Thursday, September 29th. Finally, DA Davidson assumed coverage on shares of Fifth Third Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $36.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.57.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 10,209 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $35.76, for a total value of $365,073.84. Following the transaction, the executive vice president now directly owns 69,534 shares of the company’s stock, valued at approximately $2,486,535.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Company Profile

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Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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