Asio Capital LLC Purchases 1,216 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Asio Capital LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,876 shares of the financial services provider’s stock after acquiring an additional 1,216 shares during the quarter. Asio Capital LLC’s holdings in Fifth Third Bancorp were worth $3,379,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FITB. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at about $29,000. Hexagon Capital Partners LLC grew its position in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the period. American Capital Advisory LLC purchased a new stake in Fifth Third Bancorp during the second quarter valued at approximately $34,000. Centerpoint Advisors LLC raised its position in Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter worth $52,000. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,500 shares of company stock valued at $2,269,920 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FITB shares. Bank of America raised their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Evercore ISI upped their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $41.78.

Fifth Third Bancorp Trading Up 2.7 %

Shares of NASDAQ:FITB opened at $43.84 on Friday. The business’s 50-day moving average is $41.61 and its 200 day moving average is $38.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $43.94. The firm has a market capitalization of $29.67 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same period in the previous year, the business earned $0.87 earnings per share. On average, research analysts predict that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s payout ratio is presently 47.13%.

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.