Fifth Third Bancorp (NASDAQ:FITB) shares sold by Stratos Wealth Partners LTD.


Stratos Wealth Partners LTD. reduced its holdings in Fifth Third Bancorp (NASDAQ:FITBGet a rating) by 3.9% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The fund held 15,082 shares of the financial services provider after selling 606 shares during the period. The holdings of Stratos Wealth Partners LTD. in Fifth Third Bancorp were worth $649,000 when it was last filed with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also changed their stakes in the company. Riverview Trust Co acquired a new equity stake in Fifth Third Bancorp during Q1 worth approximately $28,000. Johnson Financial Group Inc. acquired a new stake in the shares of Fifth Third Bancorp during the 4th quarter at a value of approximately $31,000. Wagner Wealth Management LLC increased its equity stake in Fifth Third Bancorp by 82.5% during the 4th quarter. Wagner Wealth Management LLC now owns 794 shares of the financial services provider worth $35,000 after buying 359 additional shares in the last quarter. Evoke Wealth LLC increased its stake in shares of Fifth Third Bancorp by 146.7% during the 4th quarter. Evoke Wealth LLC now owns 814 shares of the financial services provider worth $36,000 after buying an additional 484 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in the shares of Fifth Third Bancorp during the 4th quarter for a value of approximately $37,000. 81.00% of the shares are currently held by hedge funds and other institutional investors.

The FITB has been the subject of several reports by research analysts. Wedbush raised its price target on Fifth Third Bancorp stock to $48.00 and gave the stock an “na” rating in a Tuesday, May 17 research report. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperforming” rating and set a target price of $44.00 on the stock in a research report on Friday, June 17 . Goldman Sachs Group lowered its price target on Fifth Third Bancorp shares from $55.00 to $47.50 and set a ‘buy’ rating on the stock in a Tuesday, May 31 research report . Wells Fargo & Company cut its price target on Fifth Third Bancorp shares from $52.00 to $43.00 and set an “overweight” rating on the stock in a Friday, July 1 research report. Finally, Bank of America raised its price target on Fifth Third Bancorp shares from $44.00 to $46.00 and gave the stock a “buy” rating in a Wednesday, April 20 research report. Six equity research analysts gave the stock a hold rating and nine gave the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.93.

FITB opened at $32.21 on Friday. The company has a market capitalization of $22.02 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.12 and a beta of 1.33. The company’s 50-day moving average is $35.78 and its 200-day moving average is $41.60. Fifth Third Bancorp has a 52-week low of $31.80 and a 52-week high of $50.64. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt ratio of 0.60.

Fifth Third Bancorp (NASDAQ:FITBGet a rating) last released its quarterly results on Tuesday, April 19. The financial services provider reported earnings per share of $0.69 for the quarter, missing analyst consensus estimates of $0.70 per ($0.01). Fifth Third Bancorp achieved a return on equity of 12.99% and a net margin of 31.14%. The company posted revenue of $1.88 billion for the quarter, compared to analysts’ estimates of $1.94 billion. During the same period a year earlier, the company posted EPS of $0.93. Stock analysts expect Fifth Third Bancorp to post earnings per share of 3.67 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Wednesday, June 29. Fifth Third Bancorp’s payout ratio is currently 34.38%.

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp in a trade on Tuesday, May 17. The shares were sold at an average price of $36.93, for a total value of $92,325.00. Following the completion of the transaction, the executive vice president now owns 45,844 shares of the company, valued at $1,693,018.92. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CEO Greg D. Carmichael sold 50,000 shares of Fifth Third Bancorp in a trade on Thursday, April 21. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following completion of the transaction, the CEO now directly owns 644,745 shares of the company, valued at approximately $25,822,037.25. Disclosure of this sale can be found here. 0.67% of the shares are currently held by insiders of the company.

About Fifth Third Bancorp (Get a rating)

Fifth Third Bancorp operates as a diversified financial services company in the United States. The Company’s Commercial Banking segment offers credit intermediation, cash management and financial services; loan and deposit products; and cash management, foreign exchange and trade finance, derivatives and capital markets, asset-backed lending, real estate finance, public finance, commercial leasing and syndicated finance for corporate, government and professional clients.

Further reading

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Institutional ownership by quarter for Fifth Third Bancorp (NASDAQ:FITB)



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