MGO One Seven LLC Acquires 2,260 Shares of Fifth Third Bancorp (NASDAQ:FITB)

MGO One Seven LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 7.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,752 shares of the financial services provider’s stock after acquiring an additional 2,260 shares during the period. MGO One Seven LLC’s holdings in Fifth Third Bancorp were worth $1,268,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FITB. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at approximately $29,000. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp during the second quarter worth $34,000. Centerpoint Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares in the last quarter. Family Firm Inc. bought a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $52,000. Finally, Mather Group LLC. acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at $56,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.1 %

NASDAQ FITB opened at $41.17 on Friday. The stock has a market capitalization of $28.16 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.91 and a beta of 1.22. The business has a 50 day simple moving average of $40.48 and a 200 day simple moving average of $37.79. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $42.91.

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

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.59%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FITB. Jefferies Financial Group increased their target price on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Stephens restated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Bank of America increased their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.56.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the company’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 transaction of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares in the company, valued at $863,802.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock valued at $2,269,920 in the last 90 days. 0.50% of the stock is currently owned by corporate 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.