Fifth Third Bancorp (NASDAQ:FITB) Holdings Boosted by Atwood & Palmer Inc.

Atwood & Palmer Inc. boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 877,694 shares of the financial services provider’s stock after purchasing an additional 1,733 shares during the period. Fifth Third Bancorp comprises approximately 2.5% of Atwood & Palmer Inc.’s investment portfolio, making the stock its 8th largest position. Atwood & Palmer Inc.’s holdings in Fifth Third Bancorp were worth $37,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. Legacy Investment Solutions LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at approximately $39,000. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Citigroup increased their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays raised their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.92.

Fifth Third Bancorp Trading Up 2.5 %

Shares of NASDAQ FITB opened at $44.34 on Tuesday. The firm has a 50-day moving average of $45.02 and a 200 day moving average of $42.90. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The stock has a market cap of $29.73 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. Fifth Third Bancorp’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Fifth Third Bancorp Company 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.