MCF Advisors LLC Acquires 513 Shares of Fifth Third Bancorp (NASDAQ:FITB)

MCF Advisors LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 42,107 shares of the financial services provider’s stock after acquiring an additional 513 shares during the quarter. MCF Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Bailard Inc. grew its stake in shares of Fifth Third Bancorp by 0.5% in the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 264 shares in the last quarter. SVB Wealth LLC grew its position in shares of Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 283 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Fifth Third Bancorp by 3.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 300 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Fifth Third Bancorp by 2.6% in the 2nd quarter. Signaturefd LLC now owns 12,424 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 314 shares during the period. Finally, Lcnb Corp lifted its stake in Fifth Third Bancorp by 1.7% in the 4th quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after purchasing an additional 319 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley raised their price target on Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, May 31st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.56.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $41.70 on Friday. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $42.91. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $40.04 and its 200 day simple moving average is $37.53.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period last year, the firm posted $0.87 EPS. As a group, research analysts predict that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at $5,376,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the transaction, the executive vice president now owns 125,087 shares in the company, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. Insiders have sold 54,500 shares of company stock worth $2,269,920 in the last 90 days. Insiders own 0.50% of the company’s stock.

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.