Stratos Wealth Partners LTD. Makes New $456,000 Investment in Fifth Third Bancorp $FITB

Stratos Wealth Partners LTD. acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,237 shares of the financial services provider’s stock, valued at approximately $456,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthquest Corp lifted its holdings in Fifth Third Bancorp by 2.3% during the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 3.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 250 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in shares of Fifth Third Bancorp by 1.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 251 shares during the period. CENTRAL TRUST Co grew its position in shares of Fifth Third Bancorp by 4.1% in the 2nd quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 260 shares during the period. Finally, Harbour Investments Inc. increased its stake in Fifth Third Bancorp by 11.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 263 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $53.67 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $55.44. The stock has a market capitalization of $35.48 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99. The stock has a fifty day moving average of $50.09 and a 200-day moving average of $45.85.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on FITB. Keefe, Bruyette & Woods increased their target price on Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Citigroup increased their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Stephens boosted their target price on Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Jefferies Financial Group upped their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Argus lifted their price target on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.56.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

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.