8,855 Shares in Fifth Third Bancorp $FITB Bought by Alpha Family Trust

Alpha Family Trust acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the 1st quarter, Holdings Channel reports. The fund acquired 8,855 shares of the financial services provider’s stock, valued at approximately $411,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in Fifth Third Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 916 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Fifth Third Bancorp by 40.5% in 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 raised its holdings in shares of Fifth Third Bancorp by 45.5% in the second 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 last quarter. Brown Advisory Inc. lifted its position in shares of Fifth Third Bancorp by 5.0% in the second quarter. Brown Advisory Inc. now owns 10,252 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 484 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Fifth Third Bancorp in the second quarter worth $968,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FITB. Wolfe Research decreased their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Jefferies Financial Group boosted their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $58.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Robert W. Baird lifted their target price on Fifth Third Bancorp from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, DA Davidson lifted their target price on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $60.20.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $57.77 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $53.58 and its 200 day simple moving average is $50.85. Fifth Third Bancorp has a 1-year low of $40.04 and a 1-year high of $59.50. The company has a market cap of $52.36 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The business’s revenue was up 45.8% compared to the same quarter last year. On average, research analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is presently 54.61%.

About Fifth Third Bancorp

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.