Joseph Group Capital Management Sells 1,463 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Joseph Group Capital Management decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,218 shares of the financial services provider’s stock after selling 1,463 shares during the period. Joseph Group Capital Management’s holdings in Fifth Third Bancorp were worth $2,757,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp during the fourth quarter worth $28,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $29,000. Midwest Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Y.D. More Investments Ltd lifted its stake in shares of Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after buying an additional 449 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Morgan Stanley dropped their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company reduced their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $46.64.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $38.81 on Friday. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The stock has a market cap of $25.93 billion, a PE ratio of 12.36, a PEG ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average price is $42.18 and its two-hundred day moving average price is $43.51.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.81%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% 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.