Fifth Third Bancorp $FITB Stock Position Increased by Vise Technologies Inc.

Vise Technologies Inc. increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 38.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,945 shares of the financial services provider’s stock after acquiring an additional 10,231 shares during the period. Vise Technologies Inc.’s holdings in Fifth Third Bancorp were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Unison Advisors LLC boosted its position in shares of Fifth Third Bancorp by 0.7% in the third quarter. Unison Advisors LLC now owns 108,771 shares of the financial services provider’s stock valued at $5,547,000 after acquiring an additional 750 shares during the period. International Assets Investment Management LLC increased its position in Fifth Third Bancorp by 379.7% during the third quarter. International Assets Investment Management LLC now owns 40,931 shares of the financial services provider’s stock worth $2,070,000 after acquiring an additional 32,399 shares during the period. Cranbrook Wealth Management LLC increased its position in Fifth Third Bancorp by 1,659.7% during the third quarter. Cranbrook Wealth Management LLC now owns 38,872 shares of the financial services provider’s stock worth $1,966,000 after acquiring an additional 36,663 shares during the period. Childress Capital Advisors LLC bought a new position in Fifth Third Bancorp during the third quarter worth $230,000. Finally, Shakespeare Wealth Management LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at $1,127,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $53.14, for a total transaction of $1,062,800.00. Following the completion of the sale, the executive vice president owned 121,460 shares in the company, valued at $6,454,384.40. This trade represents a 14.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is owned by corporate insiders.

Fifth Third Bancorp Stock Performance

FITB opened at $53.39 on Friday. The business has a fifty day simple moving average of $52.69 and a 200 day simple moving average of $52.14. The company has a market capitalization of $48.42 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. Fifth Third Bancorp has a 1 year low of $40.68 and a 1 year high of $59.50. 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 (NASDAQ:FITB) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.27. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue was up 42.4% on a year-over-year basis. Research analysts expect that Fifth Third Bancorp will post 4.10 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.40. Fifth Third Bancorp’s payout ratio is currently 57.53%.

Analyst Ratings Changes

Several brokerages recently issued reports on FITB. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Evercore raised shares of Fifth Third Bancorp from an “in-line” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Wednesday, October 21st. Jefferies Financial Group reduced their target price on shares of Fifth Third Bancorp from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Argus raised shares of Fifth Third Bancorp to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Fifth Third Bancorp from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.87.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Its principal subsidiary, Fifth Third Bank, provides banking and financial services to individuals, businesses, government entities and institutional clients.

The company’s offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, treasury management, cash management and payment-processing services. Through its wealth and asset management businesses, Fifth Third also provides investment management, brokerage, trust, private banking and financial planning services.

Fifth Third primarily serves customers across the Midwest and Southeast, with a branch and banking-center network spanning states including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee and West Virginia.