SVB Wealth LLC Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

SVB Wealth LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,438 shares of the financial services provider’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FITB. GoalVest Advisory LLC grew its holdings in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $36,000. Financial Management Professionals Inc. grew its holdings in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Fifth Third Bancorp by 322.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock worth $44,000 after buying an additional 1,320 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FITB shares. Barclays increased their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday. Stephens restated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Evercore ISI raised 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, March 28th. Finally, Robert W. Baird restated a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $36.31.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The stock was 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 of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 11th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,357 shares of company stock valued at $1,693,888. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 0.8 %

Shares of NASDAQ:FITB opened at $36.55 on Tuesday. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $35.26 and its two-hundred day simple moving average is $31.97. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period last year, the firm posted $0.78 earnings per share. Analysts expect that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.83%. Fifth Third Bancorp’s payout ratio is 44.44%.

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.