Checchi Capital Advisers LLC Acquires 430 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Checchi Capital Advisers LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,803 shares of the financial services provider’s stock after acquiring an additional 430 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Fifth Third Bancorp were worth $321,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bailard Inc. lifted its holdings in shares of Fifth Third Bancorp by 0.5% during the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 264 shares in the last quarter. SVB Wealth LLC lifted its stake in Fifth Third Bancorp by 3.8% in the first quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after buying an additional 283 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock valued at $294,000 after buying an additional 300 shares during the period. Lcnb Corp increased its position in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 319 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 0.8% during the first quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock worth $1,558,000 after acquiring an additional 328 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at $5,224,883.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock valued at $2,269,920 in the last quarter. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FITB. Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Royal Bank of Canada upped their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Argus boosted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $40.56.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $42.20 on Thursday. The stock has a market cap of $28.87 billion, a PE ratio of 13.40, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $39.29 and a 200-day moving average of $37.19. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

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.