Kestra Advisory Services LLC Purchases 15,643 Shares of Fifth Third Bancorp $FITB

Kestra Advisory Services LLC boosted its position in Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 7.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 214,688 shares of the financial services provider’s stock after acquiring an additional 15,643 shares during the period. Kestra Advisory Services LLC’s holdings in Fifth Third Bancorp were worth $10,859,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FITB. REAP Financial Group LLC boosted its holdings in Fifth Third Bancorp by 8.7% in the third quarter. REAP Financial Group LLC now owns 3,728 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 297 shares during the last quarter. Wealth Dimensions Group Ltd. grew its stake in Fifth Third Bancorp by 83.3% during the third quarter. Wealth Dimensions Group Ltd. now owns 68,766 shares of the financial services provider’s stock worth $3,478,000 after buying an additional 31,251 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,691 shares of the financial services provider’s stock worth $725,000 after buying an additional 492 shares during the period. Ascent Group LLC increased its holdings in shares of Fifth Third Bancorp by 51.2% during the 3rd quarter. Ascent Group LLC now owns 30,616 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 10,365 shares during the last quarter. Finally, Caldwell Trust Co increased its holdings in shares of Fifth Third Bancorp by 20.3% during the third quarter. Caldwell Trust Co now owns 5,357 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 905 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 26th. The stock was sold at an average price of $53.14, for a total value of $1,062,800.00. Following the transaction, the executive vice president owned 121,460 shares in the company, valued at approximately $6,454,384.40. This trade represents a 14.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $54.45 on Tuesday. The firm has a 50 day moving average of $52.65 and a 200-day moving average of $52.16. Fifth Third Bancorp has a 12 month low of $40.68 and a 12 month high of $59.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $49.20 billion, a PE ratio of 18.27, a PEG ratio of 1.09 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last posted its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.27. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.34 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 4.10 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.40. Fifth Third Bancorp’s dividend payout ratio (DPR) is 57.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FITB shares. Keefe, Bruyette & Woods lifted their price target on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Citigroup increased their price target on Fifth Third Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Bank of America raised their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. DA Davidson lifted their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, UBS Group cut their target price on Fifth Third Bancorp from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $60.87.

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

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