Valeo Financial Advisors LLC Sells 1,026 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Valeo Financial Advisors LLC cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,042 shares of the financial services provider’s stock after selling 1,026 shares during the period. Valeo Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,378,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of Fifth Third Bancorp during the first quarter worth $29,000. GoalVest Advisory LLC increased its holdings in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $36,000. Financial Management Professionals Inc. increased its holdings in shares of 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 buying an additional 1,000 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $48,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FITB has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $37.50 to $39.50 in a report on Wednesday, May 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Morgan Stanley restated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Evercore ISI decreased their price objective on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Finally, DA Davidson increased their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.15.

Fifth Third Bancorp Price Performance

FITB stock opened at $36.78 on Thursday. The stock has a market capitalization of $25.16 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.55 and a beta of 1.24. The company’s 50-day moving average is $36.91 and its 200-day moving average is $35.62. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last released 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. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities research analysts expect that Fifth Third Bancorp will post 3.29 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.