OneDigital Investment Advisors LLC Has $878,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

OneDigital Investment Advisors LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,505 shares of the financial services provider’s stock after buying an additional 222 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FITB. Venturi Wealth Management LLC raised its stake in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp during the 2nd quarter worth about $34,000. Catalyst Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $53,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Fifth Third Bancorp by 1,787.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,269 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore ISI upped their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Barclays upped their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.09.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $46.44 on Wednesday. The stock’s 50 day moving average is $43.83 and its 200-day moving average is $40.54. Fifth Third Bancorp has a twelve month low of $26.89 and a twelve month high of $48.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $31.14 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.25 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.19%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Insider Activity

In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This trade represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.