Stratos Wealth Partners LTD. Invests $456,000 in Fifth Third Bancorp $FITB

Stratos Wealth Partners LTD. bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,237 shares of the financial services provider’s stock, valued at approximately $456,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC grew its stake in shares of Fifth Third Bancorp by 23.8% in the 3rd quarter. SVB Wealth LLC now owns 14,200 shares of the financial services provider’s stock worth $633,000 after buying an additional 2,728 shares during the last quarter. Midwest Trust Co grew its stake in shares of Fifth Third Bancorp by 6.0% in the third quarter. Midwest Trust Co now owns 286,050 shares of the financial services provider’s stock worth $12,744,000 after acquiring an additional 16,296 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 7.6% during the third quarter. Profund Advisors LLC now owns 11,161 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 787 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Fifth Third Bancorp by 82.1% in the 3rd quarter. ProShare Advisors LLC now owns 291,786 shares of the financial services provider’s stock worth $12,999,000 after purchasing an additional 131,576 shares during the last quarter. Finally, Western Wealth Management LLC boosted its stake in Fifth Third Bancorp by 8.8% in the 3rd quarter. Western Wealth Management LLC now owns 6,680 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 538 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $53.67 on Thursday. The stock has a fifty day moving average price of $50.09 and a 200 day moving average price of $45.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $35.48 billion, a PE ratio of 15.16, a P/E/G ratio of 1.08 and a beta of 0.99. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The company had revenue of $3.82 billion for the quarter. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FITB. TD Cowen restated a “buy” rating and issued a $60.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Weiss Ratings lowered Fifth Third Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 11th. UBS Group reaffirmed a “buy” rating and set a $59.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, February 4th. Jefferies Financial Group boosted their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, Robert W. Baird raised their target price on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $56.56.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.