Wilmington Savings Fund Society FSB Acquires Shares of 4,463 Fifth Third Bancorp (NASDAQ:FITB)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 4,463 shares of the financial services provider’s stock, valued at approximately $191,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC increased its position in shares of 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 valued at $37,000 after acquiring an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $39,000. Finally, American Capital Advisory LLC bought a new position in Fifth Third Bancorp in the 2nd quarter valued at approximately $34,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $42.59 on Thursday. The business’s fifty day moving average is $45.67 and its 200 day moving average is $41.83. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two 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 capitalization of $28.56 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

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 analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. Sell-side analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid 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 3.47%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Insider Activity

In other news, 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 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on FITB shares. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Evercore ISI lifted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.32.

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.