Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,669 shares of the financial services provider’s stock after purchasing an additional 3,271 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Fifth Third Bancorp were worth $5,048,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. grew its position in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 300 shares during the last quarter. Lcnb Corp grew its position in shares of Fifth Third Bancorp by 1.7% in the fourth 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. Independence Bank of Kentucky grew its position in shares of Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 355 shares during the last quarter. Vicus Capital lifted its stake in shares of Fifth Third Bancorp by 4.1% during the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after buying an additional 397 shares during the period. Finally, Regal Investment Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 1.1% during the fourth quarter. Regal Investment Advisors LLC now owns 37,632 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 398 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent analyst reports. Evercore ISI reduced their price objective on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research note on Tuesday. Morgan Stanley reissued an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, DA Davidson increased their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $37.26.

Get Our Latest Analysis on FITB

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock traded down $0.25 during trading hours on Tuesday, reaching $36.39. The company’s stock had a trading volume of 912,902 shares, compared to its average volume of 4,836,396. The company’s 50 day simple moving average is $36.81 and its 200 day simple moving average is $35.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $39.14. The stock has a market cap of $24.89 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period last year, the firm posted $0.78 EPS. As a group, analysts expect that Fifth Third Bancorp will post 3.26 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.85%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 44.44%.

Insiders Place Their Bets

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

About Fifth Third Bancorp

(Free Report)

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.

Further Reading

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

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