Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 661,215 shares of the financial services provider’s stock after purchasing an additional 69,273 shares during the period. Raymond James & Associates owned approximately 0.10% of Fifth Third Bancorp worth $22,805,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its position in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares during the last quarter. Financial Management Professionals Inc. lifted its position in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $38,000. Covestor Ltd lifted its position in shares of Fifth Third Bancorp by 43.9% during the first quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 372 shares during the last quarter. Finally, Clear Street Markets LLC lifted its position in shares of Fifth Third Bancorp by 93.4% during the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 647 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, January 9th. Evercore ISI lifted their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday. Morgan Stanley lifted their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. UBS Group lifted their price target on Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.72.

Read Our Latest Analysis on Fifth Third Bancorp

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $37.21 on Monday. The company’s fifty day moving average is $34.89 and its two-hundred day moving average is $30.86. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41. The company has a market cap of $25.35 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company posted $1.04 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.17 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Company Profile

(Free Report)

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.

Further Reading

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

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