DB&C Advisors LLC Buys Shares of 10,465 Fifth Third Bancorp $FITB

DB&C Advisors LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,465 shares of the financial services provider’s stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FITB. Westside Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares during the period. Leonteq Securities AG acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $30,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Fifth Third Bancorp by 619.6% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 632 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Fifth Third Bancorp by 77.6% during the fourth quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 322 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

FITB stock opened at $52.01 on Friday. Fifth Third Bancorp has a fifty-two week low of $37.86 and a fifty-two week high of $55.44. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $47.14 billion, a P/E ratio of 17.45, a PEG ratio of 1.06 and a beta of 0.92. The company has a 50-day simple moving average of $49.08 and a 200 day simple moving average of $48.47.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the prior year, the company earned $0.71 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FITB shares. Wolfe Research reduced their price target on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Robert W. Baird boosted their price target on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. boosted their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group boosted their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Fifth Third Bancorp in a report on Monday, May 4th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.19.

View Our Latest Stock Report on Fifth Third Bancorp

Fifth Third Bancorp Company Profile

(Free Report)

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

See Also

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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