Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,527 shares of the financial services provider’s stock after acquiring an additional 1,461 shares during the quarter. Wedmont Private Capital’s holdings in Fifth Third Bancorp were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FITB. 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 worth $37,000 after purchasing an additional 312 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Fifth Third Bancorp during the third quarter valued at about $163,000. Atomi Financial Group Inc. raised its stake in shares of Fifth Third Bancorp by 62.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 9,736 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 3,740 shares during the period. Callan Family Office LLC lifted its holdings in shares of Fifth Third Bancorp by 60.7% in the 3rd quarter. Callan Family Office LLC now owns 82,551 shares of the financial services provider’s stock worth $3,536,000 after acquiring an additional 31,197 shares during the last quarter. Finally, Aprio Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 15.3% during the 3rd quarter. Aprio Wealth Management LLC now owns 8,794 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 1,164 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FITB. Morgan Stanley upped their price target on 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. Jefferies Financial Group boosted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Evercore ISI raised their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Bank of America increased their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.78.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of the 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total value of $835,400.00. Following the completion of the sale, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock worth $2,269,920 in the last quarter. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Up 2.7 %

FITB opened at $43.84 on Friday. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $43.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $29.67 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The business’s 50-day simple moving average is $41.61 and its 200-day simple moving average is $38.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.87 EPS. Analysts anticipate that Fifth Third Bancorp will post 3.31 EPS 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. Shareholders of record on Monday, September 30th will be given a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.