95,799 Shares in Fifth Third Bancorp $FITB Purchased by AMJ Financial Wealth Management

AMJ Financial Wealth Management acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 95,799 shares of the financial services provider’s stock, valued at approximately $4,268,000.

A number of other hedge funds have also added to or reduced their stakes in FITB. Wealthquest Corp grew its stake in Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after buying an additional 250 shares during the period. Capital Investment Advisory Services LLC grew its position in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 251 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after buying an additional 260 shares during the period. Finally, Foster & Motley Inc. raised its holdings in shares of Fifth Third Bancorp by 1.7% in the third quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 265 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $53.62 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The firm has a market cap of $35.45 billion, a PE ratio of 15.15, a P/E/G ratio of 1.09 and a beta of 0.99. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $55.44. The stock has a fifty day moving average price of $50.29 and a 200-day moving average price of $46.02.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The company had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. Equities research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 45.20%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the transaction, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wolfe Research raised their target price on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Jefferies Financial Group boosted their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Citigroup upped their target price on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Piper Sandler lifted their price target on Fifth Third Bancorp from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $56.56.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.