Simplicity Solutions LLC Has $364,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Simplicity Solutions LLC cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,551 shares of the financial services provider’s stock after selling 374 shares during the quarter. Simplicity Solutions LLC’s holdings in Fifth Third Bancorp were worth $364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its holdings in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth $36,000. Clear Street Markets LLC increased its holdings in Fifth Third Bancorp by 93.4% in the 1st 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 during the period. Financial Management Professionals Inc. raised its stake in shares of Fifth Third Bancorp by 1,000.0% in the 4th 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. Finally, ICA Group Wealth Management LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter worth about $38,000. 83.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on FITB. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Barclays upped their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.63.

Insider Buying and Selling

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

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $36.25 on Friday. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average is $35.21 and its 200-day moving average is $31.78. The firm has a market capitalization of $24.69 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.29 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is 43.34%.

Fifth Third Bancorp 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.