McGlone Suttner Wealth Management Inc. Buys New Position in Fifth Third Bancorp (NASDAQ:FITB)

McGlone Suttner Wealth Management Inc. bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,472 shares of the financial services provider’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GoalVest Advisory LLC lifted its holdings in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $38,000. Covestor Ltd lifted its stake in Fifth Third Bancorp by 43.9% during the first quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock valued at $52,000 after buying an additional 372 shares in the last quarter. Finally, Clear Street Markets LLC lifted its stake in Fifth Third Bancorp by 93.4% during the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after buying an additional 647 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded up $0.47 during trading on Thursday, reaching $37.21. The stock had a trading volume of 5,183,851 shares, compared to its average volume of 5,634,350. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41. The firm has a market capitalization of $25.35 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.38 and a beta of 1.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $34.75 and a two-hundred day simple moving average of $30.72.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm posted $1.04 earnings per share. As a group, analysts anticipate that Fifth Third Bancorp will post 3.17 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.76%. Fifth Third Bancorp’s payout ratio is 43.34%.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada upped their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Stephens reiterated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Finally, Morgan Stanley upped their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.72.

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.