Fifth Third Bancorp (NASDAQ:FITB) Stake Lifted by Signet Financial Management LLC

Signet Financial Management LLC boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,054 shares of the financial services provider’s stock after purchasing an additional 2,025 shares during the period. Signet Financial Management LLC’s holdings in Fifth Third Bancorp were worth $2,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC grew its position in Fifth Third Bancorp by 8.9% in the first quarter. St. Johns Investment Management Company LLC now owns 22,132 shares of the financial services provider’s stock worth $824,000 after buying an additional 1,814 shares during the last quarter. Mcdonald Partners LLC acquired a new stake in shares of Fifth Third Bancorp during the first quarter worth $213,000. Gateway Investment Advisers LLC lifted its holdings in shares of Fifth Third Bancorp by 2.5% during the first quarter. Gateway Investment Advisers LLC now owns 135,669 shares of the financial services provider’s stock valued at $5,048,000 after purchasing an additional 3,271 shares during the last quarter. Unison Advisors LLC raised its holdings in Fifth Third Bancorp by 1.5% during the 1st quarter. Unison Advisors LLC now owns 99,783 shares of the financial services provider’s stock worth $3,748,000 after buying an additional 1,428 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. purchased a new stake in Fifth Third Bancorp during the first quarter valued at about $29,000. 83.79% of the stock is owned by institutional investors.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Down 0.1 %

Shares of NASDAQ:FITB traded down $0.04 during trading on Thursday, hitting $35.89. 1,408,035 shares of the company were exchanged, compared to its average volume of 4,824,374. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 2.48 and a beta of 1.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $39.14. The firm has a fifty day moving average price of $36.85 and a two-hundred day moving average price of $35.49.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FITB shares. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. DA Davidson upped their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Evercore ISI dropped their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.26.

About Fifth Third Bancorp

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.