Kestra Private Wealth Services LLC Lowers Position in Fifth Third Bancorp (NASDAQ:FITB)

Kestra Private Wealth Services LLC trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 26.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,454 shares of the financial services provider’s stock after selling 3,757 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Fifth Third Bancorp were worth $361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FITB. GoalVest Advisory LLC boosted its position in Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $36,000. Financial Management Professionals Inc. raised its stake 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 in the last quarter. Friedenthal Financial purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $48,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Fifth Third Bancorp by 83.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 695 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock worth $1,787,638 over the last 90 days. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FITB shares. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Stephens reiterated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Royal Bank of Canada upped their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 1st. Finally, DA Davidson boosted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $38.03 on Wednesday. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a fifty day simple moving average of $36.05 and a two-hundred day simple moving average of $32.95. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $38.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period last year, the business earned $0.78 EPS. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 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.