Stratos Wealth Partners LTD. raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 60.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,122 shares of the financial services provider’s stock after purchasing an additional 5,324 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Fifth Third Bancorp were worth $210,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $6,532,000. Sailer Financial LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $28,000. Global Retirement Partners LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $31,000. Americana Partners LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $32,000. Finally, TFG Advisers LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $35,000. 78.89% of the stock is currently owned by institutional investors.
Fifth Third Bancorp stock opened at $16.29 on Wednesday. The company’s 50 day simple moving average is $16.43 and its 200-day simple moving average is $25.32. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.72. Fifth Third Bancorp has a 1 year low of $11.10 and a 1 year high of $31.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.88 and a current ratio of 0.89.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Fifth Third Bancorp had a net margin of 18.85% and a return on equity of 9.05%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted $0.63 earnings per share. Equities analysts expect that Fifth Third Bancorp will post 1.3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st were paid a dividend of $0.27 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 6.63%. The ex-dividend date was Monday, March 30th. Fifth Third Bancorp’s dividend payout ratio is presently 38.99%.
In other Fifth Third Bancorp news, Director Katherine H. Blackburn bought 58,800 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $16.90 per share, with a total value of $993,720.00. Following the purchase, the director now directly owns 104,154 shares in the company, valued at $1,760,202.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by corporate insiders.
FITB has been the topic of a number of research analyst reports. Citigroup dropped their target price on shares of Fifth Third Bancorp from $33.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. TheStreet downgraded shares of Fifth Third Bancorp from a “b” rating to a “c+” rating in a research note on Tuesday, March 10th. Evercore ISI reaffirmed a “sell” rating on shares of Fifth Third Bancorp in a report on Thursday, January 23rd. ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, DA Davidson assumed coverage on shares of Fifth Third Bancorp in a report on Monday, March 23rd. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $25.11.
Fifth Third Bancorp Company Profile
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; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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