New England Capital Financial Advisors LLC Sells 822 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New England Capital Financial Advisors LLC trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,999 shares of the financial services provider’s stock after selling 822 shares during the period. Fifth Third Bancorp comprises approximately 0.3% of New England Capital Financial Advisors LLC’s investment portfolio, making the stock its 26th largest holding. New England Capital Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $552,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC increased its holdings in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $36,000. Financial Management Professionals Inc. increased its holdings in Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Fifth Third Bancorp by 322.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at about $46,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. 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 report on Monday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Barclays lifted their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI lifted their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company lifted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $36.31.

Insider Activity

In other 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction 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 sale, 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 legal filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,357 shares of company stock valued at $1,693,888. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.51 during mid-day trading on Tuesday, reaching $37.06. The stock had a trading volume of 4,292,851 shares, compared to its average volume of 5,493,635. The firm has a 50 day moving average price of $35.35 and a two-hundred day moving average price of $32.07. The stock has a market capitalization of $25.25 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.38 and a beta of 1.27. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, analysts expect that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

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.