Creative Planning lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,317 shares of the financial services provider’s stock after buying an additional 4,116 shares during the quarter. Creative Planning’s holdings in Fifth Third Bancorp were worth $10,124,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Stablepoint Partners LLC increased its position in Fifth Third Bancorp by 0.5% in the third quarter. Stablepoint Partners LLC now owns 108,661 shares of the financial services provider’s stock worth $4,655,000 after purchasing an additional 519 shares during the period. ORG Wealth Partners LLC acquired a new stake in Fifth Third Bancorp in the third quarter worth about $90,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Fifth Third Bancorp by 25.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,709 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 1,945 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in Fifth Third Bancorp by 9.2% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 8,162 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 690 shares during the period. Finally, Koshinski Asset Management Inc. increased its position in Fifth Third Bancorp by 4.7% in the third quarter. Koshinski Asset Management Inc. now owns 6,244 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 283 shares during the period. 83.79% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by company insiders.
Fifth Third Bancorp Trading Up 0.7 %
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Research analysts forecast that Fifth Third Bancorp will post 3.31 EPS for the current year.
Fifth Third Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.37 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on FITB shares. Bank of America boosted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Barclays boosted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday. Jefferies Financial Group boosted their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley boosted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.28.
View Our Latest Stock Analysis on Fifth Third Bancorp
Fifth Third Bancorp Company 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.
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