Arkadios Wealth Advisors Sells 504 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Arkadios Wealth Advisors lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,708 shares of the financial services provider’s stock after selling 504 shares during the quarter. Arkadios Wealth Advisors’ holdings in Fifth Third Bancorp were worth $281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB. Vanguard Group Inc. grew its stake in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock valued at $3,012,472,000 after purchasing an additional 734,403 shares during the last quarter. Capital World Investors boosted its position in Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock valued at $1,733,847,000 after buying an additional 5,512,333 shares during the last quarter. Boston Partners increased its stake in shares of Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after buying an additional 1,499,194 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fifth Third Bancorp by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock worth $318,979,000 after acquiring an additional 393,489 shares during the last quarter. Finally, Norges Bank bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $257,189,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group boosted 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. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Friday, May 31st. Evercore ISI lowered their target price on shares of 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Finally, StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.56.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $42.69 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $42.91. The company’s 50 day moving average price is $39.41 and its two-hundred day moving average price is $37.22. The company has a market capitalization of $29.20 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 previous year, the business earned $0.87 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.28%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares in the company, valued at approximately $5,376,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares in the company, valued at $5,376,880. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,500 shares of company stock worth $2,269,920. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Company Profile

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.