Fifth Third Bancorp $FITB Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 12.5% in the second quarter, HoldingsChannel.com reports. The fund owned 18,279 shares of the financial services provider’s stock after selling 2,616 shares during the quarter. Apollon Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $752,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. HWG Holdings LP acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter worth $27,000. Banque Transatlantique SA acquired a new stake in shares of Fifth Third Bancorp during the first quarter valued at about $27,000. Larson Financial Group LLC grew its stake in shares of Fifth Third Bancorp by 91.3% during the first quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 357 shares in the last quarter. BankPlus Trust Department grew its stake in shares of Fifth Third Bancorp by 53.0% during the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 290 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Fifth Third Bancorp by 60.7% during the first quarter. Grove Bank & Trust now owns 887 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 1.1%

Fifth Third Bancorp stock opened at $42.92 on Thursday. The company’s fifty day simple moving average is $44.32 and its 200-day simple moving average is $40.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market cap of $28.41 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.18 and a beta of 0.95.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Citigroup lifted their price target on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. UBS Group raised their price objective on shares of Fifth Third Bancorp from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. TD Cowen raised their price objective on shares of Fifth Third Bancorp from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Janney Montgomery Scott lifted their price target on shares of Fifth Third Bancorp from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.35.

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.