Signet Financial Management LLC Acquires 2,025 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Signet Financial Management LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,054 shares of the financial services provider’s stock after acquiring an additional 2,025 shares during the period. Signet Financial Management LLC’s holdings in Fifth Third Bancorp were worth $2,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp during the first quarter valued at about $29,000. GoalVest Advisory LLC increased its position in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $36,000. Financial Management Professionals Inc. lifted its holdings in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.1 %

NASDAQ:FITB traded down $0.04 during trading hours on Thursday, hitting $35.89. 1,408,035 shares of the company traded hands, compared to its average volume of 4,824,374. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market cap of $24.55 billion, a PE ratio of 11.41, a PEG ratio of 2.48 and a beta of 1.24. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $39.14. The firm’s 50-day simple moving average is $36.85 and its 200-day simple moving average is $35.49.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company posted $0.78 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.27 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent research reports. Evercore ISI cut their target price on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Stephens reiterated an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Finally, UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $37.26.

Fifth Third Bancorp Profile

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.