Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,861 shares of the financial services provider’s stock after selling 364 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the last quarter. American Capital Advisory LLC acquired a new stake in Fifth Third Bancorp during the second quarter worth $34,000. Centerpoint Advisors LLC increased its stake in Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the last quarter. Family Firm Inc. acquired a new stake in Fifth Third Bancorp during the second quarter worth $52,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Fifth Third Bancorp during the third quarter worth $69,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 2.9 %

NASDAQ:FITB opened at $43.37 on Tuesday. The firm has a market cap of $29.67 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The stock has a fifty day moving average price of $42.24 and a 200 day moving average price of $39.18. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $45.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. Fifth Third Bancorp’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. Sell-side analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.41%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s payout ratio is 46.98%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now owns 20,961 shares in the company, valued at $863,802.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,000 shares of company stock valued at $2,169,920 in the last ninety days. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays raised their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Bank of America raised their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley raised their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, StockNews.com upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $42.28.

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.