CWC Advisors LLC. Purchases Shares of 12,487 Fifth Third Bancorp $FITB

CWC Advisors LLC. acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the first quarter, Holdings Channel.com reports. The fund acquired 12,487 shares of the financial services provider’s stock, valued at approximately $580,000.

Several other large investors have also modified their holdings of FITB. Empowered Funds LLC raised its position in shares of Fifth Third Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 916 shares during the period. Woodline Partners LP lifted its holdings in shares of Fifth Third Bancorp by 40.5% during the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after purchasing an additional 16,323 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Fifth Third Bancorp by 45.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,428 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 759 shares during the period. Brown Advisory Inc. boosted its position in shares of Fifth Third Bancorp by 5.0% in the 2nd quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 484 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in Fifth Third Bancorp in the 2nd quarter worth about $968,000. 83.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on FITB shares. DA Davidson restated a “buy” rating and set a $58.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 20th. The Goldman Sachs Group raised their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Finally, Stephens assumed coverage on shares of Fifth Third Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $58.00 price target for the company. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average price target of $57.34.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the transaction, the executive vice president owned 76,299 shares in the company, valued at approximately $3,873,700.23. This represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Trading Up 0.1%

NASDAQ:FITB opened at $52.82 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. Fifth Third Bancorp has a fifty-two week low of $38.91 and a fifty-two week high of $55.44. The stock’s 50-day moving average is $50.35 and its two-hundred day moving average is $49.26. The stock has a market cap of $47.87 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.During the same quarter in the prior year, the company earned $0.71 EPS. As a group, equities research analysts forecast that Fifth Third Bancorp will post 4.1 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 Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

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.