NEOS Investment Management LLC Acquires Shares of 9,656 Fifth Third Bancorp (NASDAQ:FITB)

NEOS Investment Management LLC acquired a new stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 9,656 shares of the financial services provider’s stock, valued at approximately $333,000.

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

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 directly owns 229,344 shares in the company, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which is available at this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the business’s 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 of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,857 shares of company stock worth $1,787,638. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FITB shares. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $37.50 to $39.50 in a research note on Wednesday, May 1st. DA Davidson lifted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Finally, Stephens reissued 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 research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.86.

View Our Latest Stock Report on FITB

Fifth Third Bancorp Trading Up 0.6 %

Shares of NASDAQ:FITB opened at $36.38 on Thursday. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $39.14. The stock has a market cap of $24.89 billion, a PE ratio of 11.55, a P/E/G ratio of 2.50 and a beta of 1.24. The business has a 50 day moving average of $36.78 and a 200-day moving average of $34.76. 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:FITBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that Fifth Third Bancorp will post 3.27 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Fifth Third Bancorp 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.

See Also

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

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

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.