5,400 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by RBF Capital LLC

RBF Capital LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,400 shares of the financial services provider’s stock, valued at approximately $231,000.

Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter worth $34,000. Hexagon Capital Partners LLC lifted its holdings in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $39,000. Finally, Family Firm Inc. bought a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $52,000. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FITB shares. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays boosted their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Piper Sandler upped their target price on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $44.81.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $47.32 on Friday. The firm has a market cap of $31.73 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.25 and a beta of 1.22. Fifth Third Bancorp has a one year low of $30.19 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty day simple moving average is $45.07 and its 200 day simple moving average is $41.27.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

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.