3,813 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,813 shares of the financial services provider’s stock, valued at approximately $163,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FITB. Quent Capital LLC increased its position in shares of Fifth Third Bancorp by 9.9% during the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co raised its position in shares of Fifth Third Bancorp by 2.6% during the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after buying an additional 259 shares in the last quarter. Bailard Inc. lifted its stake in shares of Fifth Third Bancorp by 0.5% in 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 during the last quarter. Ballentine Partners LLC boosted its stake in shares of Fifth Third Bancorp by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 278 shares during the period. Finally, SVB Wealth LLC boosted its stake in shares of Fifth Third Bancorp by 3.8% during the first quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 283 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Argus lifted their price objective 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. Jefferies Financial Group increased their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Bank of America upped their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.78.

Insider Activity

In other news, EVP Jude Schramm sold 2,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Kevin P. Lavender sold 20,000 shares of the stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 134,422 shares of the company’s stock, valued at $5,376,880. The trade was a 0.00 % decrease in their position. 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 ninety days. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Trading Down 0.4 %

NASDAQ FITB opened at $41.99 on Wednesday. The firm’s fifty day moving average price is $41.48 and its 200 day moving average price is $38.69. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $43.85. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $28.72 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results 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 firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.87 earnings per share. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.52%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Fifth Third Bancorp 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.