Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 14.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,528 shares of the financial services provider’s stock after acquiring an additional 3,572 shares during the quarter. GAMMA Investing LLC’s holdings in Fifth Third Bancorp were worth $1,164,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased 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 period. Legacy Investment Solutions LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC increased its position in shares of 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 valued at $37,000 after purchasing an additional 312 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $39,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Fifth Third Bancorp by 232.0% in the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock valued at $43,000 after buying an additional 703 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Trading Up 0.5 %

Shares of NASDAQ:FITB opened at $42.39 on Friday. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $28.42 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.19 and a beta of 1.22. The stock’s 50-day moving average is $45.35 and its 200-day moving average is $42.30.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the company posted $0.92 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.49%. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FITB. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler raised their price objective on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Evercore ISI raised their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $45.32.

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.