Laurel Wealth Advisors LLC Has $1.02 Million Stake in Fifth Third Bancorp $FITB

Laurel Wealth Advisors LLC cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 97.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,884 shares of the financial services provider’s stock after selling 959,465 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,019,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wealthquest Corp increased its stake in Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 244 shares during the last quarter. Tiemann Investment Advisors LLC lifted its stake in Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 250 shares during the last quarter. Capital Investment Advisory Services LLC boosted its position in Fifth Third Bancorp by 1.1% in the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 251 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after buying an additional 260 shares during the last quarter. Finally, Foster & Motley Inc. increased its holdings in shares of Fifth Third Bancorp by 1.7% during the third quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock worth $712,000 after buying an additional 265 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of several recent research reports. Argus raised their price objective on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Janney Montgomery Scott boosted their price target on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Wall Street Zen lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Citigroup boosted their target price on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.56.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $49.47 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $55.44. The company has a 50 day simple moving average of $50.59 and a two-hundred day simple moving average of $46.36. The company has a market capitalization of $32.70 billion, a PE ratio of 13.97, a P/E/G ratio of 1.00 and a beta of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 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. Research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling at Fifth Third Bancorp

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

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.