Fifth Third Bancorp $FITB Shares Acquired by Advisory Resource Group

Advisory Resource Group boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,548 shares of the financial services provider’s stock after acquiring an additional 11,887 shares during the quarter. Fifth Third Bancorp accounts for about 1.1% of Advisory Resource Group’s holdings, making the stock its 24th biggest holding. Advisory Resource Group’s holdings in Fifth Third Bancorp were worth $5,534,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management lifted its stake in Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 626 shares during the last quarter. Banque Transatlantique SA purchased a new position in Fifth Third Bancorp during the 1st quarter worth approximately $27,000. Larson Financial Group LLC increased its position in Fifth Third Bancorp by 91.3% during the first quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock worth $29,000 after buying an additional 357 shares during the period. GoalVest Advisory LLC increased its holdings in shares of Fifth Third Bancorp by 246.3% in the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 532 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $32,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fifth Third Bancorp news, Director Evan Bayh bought 3,000 shares of the stock in a transaction dated Monday, October 20th. The stock was bought at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director directly owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FITB has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective on shares of Fifth Third Bancorp from $49.00 to $47.00 in a research report on Thursday, October 30th. Argus boosted their target price on Fifth Third Bancorp from $46.00 to $49.00 in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, October 7th. Wall Street Zen raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.35.

Fifth Third Bancorp Stock Up 0.3%

FITB opened at $42.57 on Friday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The firm has a 50 day moving average price of $43.54 and a 200 day moving average price of $41.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $28.14 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. Fifth Third Bancorp’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.8%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 30th. Fifth Third Bancorp’s dividend payout ratio is 47.76%.

About Fifth Third Bancorp

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.