2,300 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Planned Solutions Inc.

Planned Solutions Inc. bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,300 shares of the financial services provider’s stock, valued at approximately $79,000.

A number of other hedge funds also recently made changes to their positions in the business. GoalVest Advisory LLC lifted its stake in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares during the last quarter. Clear Street Markets LLC lifted its position in shares of Fifth Third Bancorp by 93.4% during 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 last quarter. Financial Management Professionals Inc. grew its stake in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $38,000. Finally, Geneos Wealth Management Inc. raised its stake in Fifth Third Bancorp by 322.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 1,320 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Up 2.0 %

FITB stock opened at $36.74 on Thursday. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.36. The company has a market capitalization of $25.03 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The company’s 50 day moving average price is $34.69 and its two-hundred day moving average price is $30.68. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. As a group, analysts predict that Fifth Third Bancorp will post 3.17 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 43.34%.

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. UBS Group boosted their price objective on shares of Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $33.00 to $37.00 in a research note on Tuesday, January 9th. Finally, Barclays boosted their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.30.

Insider Activity

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

About Fifth Third Bancorp

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.