B. Riley Wealth Advisors Inc. Has $848,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

B. Riley Wealth Advisors Inc. decreased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,008 shares of the financial services provider’s stock after selling 5,087 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Fifth Third Bancorp were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $29,000. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $34,000. Centerpoint Advisors LLC increased its stake in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock valued at $50,000 after buying an additional 750 shares during the period. Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $52,000. Finally, Blue Trust Inc. increased its stake in shares of Fifth Third Bancorp by 130.6% in the second quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock valued at $60,000 after buying an additional 914 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp 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 completion of the sale, the executive vice president now owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 value of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,500 shares of company stock valued at $2,269,920. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FITB shares. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Bank of America raised 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. Royal Bank of Canada raised their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group increased their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $41.78.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $42.10 on Friday. The company has a market capitalization of $28.80 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.03 and a beta of 1.22. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year 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 business has a fifty day simple moving average of $41.48 and a two-hundred day simple moving average of $38.58.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly 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 company 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 quarter last year, the firm posted $0.87 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

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