Rodgers & Associates LTD Buys New Stake in Fifth Third Bancorp (NASDAQ:FITB)

Rodgers & Associates LTD bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,000 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. VCI Wealth Management LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $898,000. Syon Capital LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth $383,000. Tokio Marine Asset Management Co. Ltd. increased its stake in Fifth Third Bancorp by 5.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,528 shares of the financial services provider’s stock worth $639,000 after buying an additional 948 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in Fifth Third Bancorp during the 4th quarter worth $203,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Fifth Third Bancorp by 11.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 8,121 shares of the financial services provider’s stock worth $280,000 after buying an additional 820 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kala Gibson sold 14,857 shares of the business’s 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 sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The disclosure for this sale can be found here. In the last three months, insiders sold 46,357 shares of company stock valued at $1,693,888. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock traded down $0.41 during midday trading on Thursday, reaching $36.82. 2,832,217 shares of the stock traded hands, compared to its average volume of 5,437,124. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a fifty day moving average price of $35.48 and a two-hundred day moving average price of $32.13. The firm has a market cap of $25.08 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.40 and a beta of 1.27. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.78 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research note on Monday. Barclays lifted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada boosted their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Stephens reissued an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Finally, Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Company Profile

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.