Global Retirement Partners LLC Acquires 2,647 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Global Retirement Partners LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 84.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,794 shares of the financial services provider’s stock after acquiring an additional 2,647 shares during the period. Global Retirement Partners LLC’s holdings in Fifth Third Bancorp were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FITB. Fairfield Bush & CO. grew its position in shares of Fifth Third Bancorp by 1.4% during the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 502 shares during the period. Aviva PLC grew its position in shares of Fifth Third Bancorp by 22.0% during the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock valued at $11,008,000 after acquiring an additional 46,064 shares during the period. Prudential PLC bought a new position in Fifth Third Bancorp in the 1st quarter worth $754,000. Cetera Investment Advisers boosted its holdings in Fifth Third Bancorp by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock worth $2,365,000 after buying an additional 6,341 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Fifth Third Bancorp by 60.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock worth $5,224,000 after buying an additional 45,910 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FITB shares. The Goldman Sachs Group upped their target price on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Keefe, Bruyette & Woods downgraded shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $33.00 to $37.00 in a report on Tuesday, January 9th. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $35.50.

Read Our Latest Research Report on Fifth Third Bancorp

Insider Activity

In other news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on 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 owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $35.84 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The firm has a market capitalization of $24.41 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company’s 50-day moving average is $34.97 and its 200 day moving average is $31.01.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period in the prior year, the firm earned $1.04 EPS. Research analysts forecast that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.91%. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

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.

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

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