11,974 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,974 shares of the financial services provider’s stock, valued at approximately $413,000.

A number of other institutional investors also recently bought and sold shares of FITB. Nordea Investment Management AB lifted its position in shares of Fifth Third Bancorp by 57.5% during the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after purchasing an additional 269,152 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after purchasing an additional 393,937 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Fifth Third Bancorp by 4.3% during the third quarter. Natixis Advisors L.P. now owns 671,803 shares of the financial services provider’s stock worth $17,017,000 after purchasing an additional 27,610 shares during the last quarter. Raymond James & Associates lifted its position in shares of Fifth Third Bancorp by 17.0% during the third quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock worth $14,994,000 after purchasing an additional 85,981 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Fifth Third Bancorp by 460.8% during the third quarter. National Bank of Canada FI now owns 675,898 shares of the financial services provider’s stock worth $16,559,000 after purchasing an additional 555,375 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.47 during trading hours on Thursday, reaching $37.21. The stock had a trading volume of 5,183,851 shares, compared to its average volume of 5,634,350. The stock has a fifty day moving average of $34.75 and a 200 day moving average of $30.72. The stock has a market cap of $25.35 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Sell-side analysts predict that Fifth Third Bancorp will post 3.17 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is presently 43.34%.

Analyst Upgrades and Downgrades

FITB has been the subject of several research analyst reports. Morgan Stanley lifted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. UBS Group lifted their price objective on Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods downgraded Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. The Goldman Sachs Group lifted their price objective on Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 18th. Finally, Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.72.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.